Rasi Bhadramani/iStock via Getty Images John Patrick Lee, CFA - For 70 years, VanEck has built its reputation on a simple principle. Identify structural change early and then build disciplined investment vehicles to express it. Early on, the firm's founder, John van Eck, had a high conviction belief in gold, right before one of the largest inflationary periods in modern history. He was right. We f...
Rasi Bhadramani/iStock via Getty Images John Patrick Lee, CFA - For 70 years, VanEck has built its reputation on a simple principle. Identify structural change early and then build disciplined investment vehicles to express it. Early on, the firm's founder, John van Eck, had a high conviction belief in gold, right before one of the largest inflationary periods in modern history. He was right. We focused on emerging markets before they were institutionalized. We leaned into semiconductors well before AI became mainstream. The pattern is consistent - recognize durable macro change; design intelligent exposure; execute with discipline. That brings us to today. We believe that India represents one of the next biggest structural opportunities available to investors. One that demands a purpose-built vehicle designed to capture India's long-term opportunity for investors. Angus Shillington - So I think the best place to start is to really understand the exceptional equity returns from India over the past 10 or 20 years. India's stock market returns, in US dollars, really have been remarkably close to those from the United States. And I look really over 5, 10 and 20 years, which is head-spinning in and of itself. So that's to say that very few other major markets even approach this level of performance. And that performance has not been driven by speculation or cyclicality; it's been driven by sustained compounding of real returns in both the cases of the US and India. And just to drill down into that, if the aggregate of companies in the index delivers return on equity or return on capital employed that exceeds GDP return, that excess return compounds up over time. You don't see that really anywhere else in the world at these kinds of levels. Other markets tend to have cyclicality from commodities or from interest rates. Very rarely do you see this compounding structure as you do in the United States and India on the same broad level. And that's really just persistent high...
Richard Drury/DigitalVision via Getty Images Total construction spending rises, with months prior revised higher; power, residential and public lead, manufacturing lags. This data continues to be in the right direction for reshoring supply lines, AI spend and a residential recovery. Power site construction is outpacing manufacturing, likely due to the completion of earlier supply line initiatives,...
Richard Drury/DigitalVision via Getty Images Total construction spending rises, with months prior revised higher; power, residential and public lead, manufacturing lags. This data continues to be in the right direction for reshoring supply lines, AI spend and a residential recovery. Power site construction is outpacing manufacturing, likely due to the completion of earlier supply line initiatives, while the greenfield manufacturing sites (site clearing and prep work), which have been spurred by tariff policy, have yet to ramp up to the more expensive stage of actual construction. It can take more than 1yr to acquire sites to manufacture post-Trump's tariff policy, develop and gain approvals for site plans before even the site clearing and prep work begin. But, we do see the ramp in construction employment even with the implementation of deportations for illegal workers that have been part of this report. All in all, reshoring and tariff policy should continue to boost these numbers, real personal income, and retail sales 3yr-5yr in my estimation. Alta Equipment Group ( ALTG ), InTest Corp. ( INTT ), Builders FirstSource ( BLDR ), QXO ( QXO ), Core & Main( CNM ), Exponent ( EXPO ), XPO ( XPO ), RXO ( RXO ), GXO ( GXO ), Myers Industries ( MYE ), Core Molding Technologies ( CMT ) and others will benefit from the trends shown. Original Post Editor's Note: The summary bullets for this article were chosen by Seeking Alpha editors.
Apple (NasdaqGS:AAPL) is adding Bosch, TDK, Cirrus Logic, and Qnity Electronics to its American Manufacturing Program, expanding U.S. production of advanced components. The company also plans to open Siri to outside AI assistants in iOS 27, including options to integrate services such as Google Gemini and Anthropic Claude. These announcements point to changes in Apple’s supply chain footprint and ...
Apple (NasdaqGS:AAPL) is adding Bosch, TDK, Cirrus Logic, and Qnity Electronics to its American Manufacturing Program, expanding U.S. production of advanced components. The company also plans to open Siri to outside AI assistants in iOS 27, including options to integrate services such as Google Gemini and Anthropic Claude. These announcements point to changes in Apple’s supply chain footprint and how its core voice assistant may work with competing AI platforms. For investors watching...
USA Rare Earth Inc. will start commercial shipments of magnets from April, adding to a handful of projects that aim to curb America’s reliance on China for the vital industrial components. The company’s first rare-earth magnet production line — in Stillwater, Oklahoma — has been commissioned and should reach its full capacity of 600 tons per year by the end of December, according to a statement . ...
USA Rare Earth Inc. will start commercial shipments of magnets from April, adding to a handful of projects that aim to curb America’s reliance on China for the vital industrial components. The company’s first rare-earth magnet production line — in Stillwater, Oklahoma — has been commissioned and should reach its full capacity of 600 tons per year by the end of December, according to a statement . In January, USA Rare Earth signed a non-binding deal for $1.6 billion in funding from the Department of Commerce to help build a mine that would feed its magnet production. Rare-earth magnets are essential in high-tech applications from cars to wind turbines and missiles. The tiny but powerful components gained sudden geopolitical significance a year ago, when Beijing tightened supplies to strong-arm President Donald Trump into signing a trade truce. Read More: Rare Earths Producers Look to US-Led Boom to Blunt China’s Power USA Rare Earth is among a number of firms already making magnets in the US, albeit at very low volumes compared with China. Those include the Pentagon-backed MP Materials Corp. , which runs the country’s sole rare earths mine, as well as German group Vacuumschmelze GmbH and Texas-based Noveon Magnetics Inc. Creating a robust output outside China is likely to take many years, as magnet plants are just the end-point of a complex supply chain dominated by Beijing at every step. USA Rare Earth bought UK firm Less Common Metals last year to gain access to critical “heavy” rare earths, and wants its Round Top mine in Texas to start up in 2028. Capacity at the Oklahoma magnet plant should reach 1,200 tons a year by 2027, USA Rare Earth said.