BlackRock’s Hambro on Gold, Oil and the Next the Commodity Cycle

Merryn Somerset Webb: Host of the &quot;Merryn Talks Money&quot; Bloomberg Podcast. Financial journalist, author, and commentator with deep expertise in personal finance and macroeconomic market trends.
Evy Hambro: Global Head of Thematic and Sector Investing at BlackRock. He is a veteran investor with decades of experience managing massive portfolios centered around natural resources, gold, mining, and real assets, including the BlackRock World Mining Trust.

BlackRock’s Hambro on Gold, Oil and the Next the Commodity Cycle | Bloomberg Podcasts · Nuggets

Data Point	Value	Context	Timestamp
Standard Wealth Manager Gold Allocation	2%	The historical average baseline percentage of gold held in standard retail portfolios.	[00:01:14]
"Gavkal Turkish Portfolio" Gold Allocation	50%	High extreme allocation mentioned during Merryn's "Weekend of Mistakes" audience survey.	[00:01:45]
Gold Baseline Portfolio Leverage	5% + 2.5%	Example of typical retail/institutional financial leverage pushing baseline 5% exposure to 7.5% functional exposure.	[00:06:49]
Gold Peak Price Drop	>$1,000 / ounce	The stated rapid magnitude of the downside price retracement in gold over recent days.	[00:09:54]

BlackRock’s Hambro on Gold, Oil and the Next the Commodity Cycle | Bloomberg Podcasts