Emanuel on Money of Mine: Market Strategy & Insights

Key Takeaways from the Discussion

Emanuel Datt, Chief Investment Officer of boutique fund manager Datt Capital, recently featured on the Money of Mine podcast to share his views on markets, commodities, and portfolio strategy. The conversation offered investors a timely perspective on managing risk and identifying value in today’s environment.

You can watch the full episode of Money of Mine below, or continue reading for a summary of the key insights.

Parallels with 2006–2007

Emanuel compared current conditions with the mid-2000s, when liquidity, speculation, and commodity rallies drove markets higher. He cautioned that while strong rallies can generate outsized gains, investors should remain mindful of risk and liquidity.

“You can make a lot of money in these environments, but you also need to think about how to access liquidity if conditions change.”

Holding Cash and Protecting Capital

A recurring theme was Datt Capital’s emphasis on the optionality of cash. Unlike many investment managers, Emanuel highlighted that the firm rarely invests at full capacity, preferring to maintain flexibility to act during downturns. This disciplined approach aligns with our Datt Absolute Return Fund’s objective of preserving capital while capturing upside.

“That’s where you really make your money, by buying well when everyone else is a forced seller.” – Emanuel Datt

Gold’s Structural Shift

Emanuel also discussed the growing mainstream role of gold in portfolios. He pointed to the influence of ETF flows and central bank purchases, suggesting that gold’s adoption is broadening beyond traditional investors. For investors seeking less volatility and real asset exposure, he noted gold remains an important component of portfolio construction.

Beyond Gold: Strategic Metals

The conversation explored opportunities in lesser-known commodities such as nobium. Emanuel stressed the strategic significance of non-Chinese supply chains, positioning these resources as part of long-term thematic investing. His perspective illustrates how overlooked investment opportunities can become central to future growth.

Investment Process and Independent Thinking

Closing the discussion, Emanuel described how Datt Capital generates ideas. By reading ASX announcements daily and assessing management ambition, he explained how the firm’s independent research process aims to identify companies with both quality assets and capable leadership.

“Everything else can be perfect, but if a management team doesn’t have ambition, it will never work out.”

Emanuel’s perspective here aligns with our philosophy of disciplined, research-driven investing at Datt Capital, which guides both the Absolute Return Fund and the Small Companies Fund. If you’d like to learn more about our investment philosophy or explore more about our Funds, please feel free to contact our Head of Distribution, Daniel Liptak, on 0419 004 524 or via email at daniel@datt.com.au.