LongApril 22, 2026
Praetorian Capital on Precious Metals Basket
Thesis
Precious metals are expected to perform well in an inflationary environment marked by a loss of faith in central banks. The fund holds positions in two non-mining companies that are beneficiaries of elevated precious metal prices.
“In an inflationary world with loss of faith in Central Banks, precious metals tend to do well. We own two companies that should be beneficiaries of precious metals either appreciating or at least staying at elevated prices. Neither of these companies are directly in the mining business, which is risky and capital intensive—though one is a service provider to miners.”