Independent research on commodities, mining, shipping, and special situations — focused on neglected sectors, cycle inflections, and publicly tracked theses.
Each thesis is followed through updates, exits, ongoing results, and lessons learned — not just the winners.
"Thank you for your meticulous work and the detailed write-ups you share—they’re truly impressive. I only wish I had discovered your insights years ago; they’re both invaluable and inspiring."
"I take this opportunity to thank you for sharing the great work you do and tell you that I really like your investment strategies. I wish you the best in your personal and investment challenges. Greetings, Dario."
Alberto tracks selected theses from first publication through updates, exits, ongoing results, and mistakes. The full ledger separates closed ideas from open theses and includes both winners and losers.
67%
Avg. Return — Sold 2025
15 positions closed
172%
Avg. Return — Open
6 current positions
1,000%+
Uranium Trade (2017–22)
5-year hold period
356%
Top 2025 Win
Boab Metals
Stocks Sold in 2025
Returns since first report on the blog
Boab Metals
+356%
Goliath Resources
+199%
Hannan Metals
+122%
Radius Gold
+108%
Coppercorp
+80%
Inflection Resources
+32%
Gold
+31%
Azimut Exploration
+30%
District Metals
+26%
Aurion Resources
+12%
Star Bulk Carriers
+6%
Ero Copper
-14%
Mongolia Growth Group
-20%
AMRK
-25%
Average Return
+67%
Open Positions
2025 YTD returns — stories not over yet
Generation Mining
+429%
Liberty Gold
+220%
Bravo Mining
+170%
Okeanis Eco Tankers
+72%
Manolete Partners
-33%
Average Return
+172%
Uranium Trades (2017–2022)
1,000%+ avg. return — 5 year hold
Boss Energy
+1,452%
Vimy Resources
+1,229%
Global Atomic
+1,138%
Bannerman
+841%
Encore Energy
+503%
AAG Research provides general investment research and education only. It does not provide personalized financial advice. All investments involve risk, including loss of capital.
Investment Philosophy
Patient Research in Markets Most Investors Avoid
Alberto focuses on overlooked sectors where sentiment, capital flows, and commodity cycles can create large gaps between price and underlying value.
Commodity-Cycle Inflections
AAG Research studies markets where years of neglect, underinvestment, or poor sentiment may create asymmetric opportunities.
Uranium, copper, gold, silver, PGMs, and shipping cycles
Concentrated, Thesis-Led Thinking
The research does not try to cover everything. It focuses on a small number of situations where Alberto believes the market may be mispricing risk, timing, or long-term value.
Fewer ideas, deeper work, clearer tracking
Patience Through Volatility
Deep-value theses can take years to play out. The process requires patience, drawdown tolerance, and the discipline to separate temporary volatility from a broken thesis.
Built for patient investors, not short-term traders
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225 years of grade and depth data
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Latest Research
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Copper & Mining
22 min
3.8k
Generation Mining: Why This PGM Play Has 429% More Room to Run
A deep dive into the Generation Mining thesis — palladium, platinum, and copper exposure at an inflection point. Why Alberto's top open position may still be early.
Identifying the Next Uranium-Style Inflection in Precious Metals
The uranium trade returned 1,000%+ over 5 years. Alberto breaks down the macro signals that suggest gold and PGM miners are at a similar turning point today.
Concentrated Conviction: Why Diversification Doesn't Make Sense Here
Alberto's contrarian approach to portfolio construction — why a small, high-conviction portfolio targeting absolute returns beats benchmarking against the S&P 500.
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