Where mining meets equity markets, and noise gets cut to signal. We unpack the stories moving commodities, companies, and capital without the fluff. Featuring candid conversations with fund managers, executives, and commodity specialists. Hosted by Travis Ricciardo and Jonas Dorling.
Where mining meets equity markets, and noise gets cut to signal. We unpack the stories moving commodities, companies, and capital without the fluff. Featuring candid conversations with fund managers, executives, and commodity specialists. Hosted by Travis Ricciardo and Jonas Dorling.
In today’s episode we’re sharing our discussion with resource investor Jeff Phillips. Jeff has near on 30 years’ experience speculating in the natural resource business, and along the way he’s crafted a simple and effective approach. It all comes down to people and share structure. In our conversation we explore why backing the right people, who often have a track record of success, and are aligned with you, as well as ensuring the company structure is right, is his method of unlocking value.
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TIMESTAMPS
(00:00) – Opening Take: Jeff’s most controversial view — why stocks should have a one-year hold period.
(03:50) – Australia vs. North America: How quickly insiders can sell and what it means for market discipline.
(04:30) – Jeff’s Investing Framework: Patience, conviction, and holding positions for 2–3 years at a time.
(10:10) – Alignment & Incentives: How Jeff analyzes options, performance rights, and insider ownership.
(13:20) – The People Factor: Why management quality drives bull markets — and how euphoria fades fast.
(16:50) – Position Building: How Jeff spreads bets across his 12 core names in different commodities.
(21:20) – Corporate Outcomes: Selling vs. growing — how Jeff thinks about exits and company maturity.
(27:40) – The Playbook: Jeff’s investing model from the 1990s bull run through to today’s cycle.
(29:00) – The Oil & Gas Story: How one major energy play shaped his investing philosophy.
(32:20) – Final Thoughts: Lessons on discipline, psychology, and long-term conviction.
(33:10) – Outro & Sponsors: Partner shout-outs and disclaimers.
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PARTNERS
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FOLLOW & CONNECT
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• Travis Ricciardo: @TRAVmoneyofmine
• Jonas Dorling: @JDmoneyofmine
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DISCLAIMER
All information in this podcast is for education and entertainment purposes only and is of general nature only. Please ensure you read our full disclaimer.
