Why I think ACL is ridiculously cheap., page-95

Hahahah good one! Don't mind me using that word one day

Since diversification is in focus I'll let you in on an investing paradox... Esoterically you can build a balanced diversified ASX portfolio by just owning material sector stocks. As an Ex-Commodities desk operator can attest, commodities have good (but not fantastic) anti-correlation between them. As a rule of thumb, in a Bull Market Iron Ore, Cu/Base Metals usually flourish while defensive commodities like Gold, Other Precious Metals and Energy (Coal mainly) takes a back seat. Vice versa in a Bear market.

However this relationship is currently defective at this point in history because:

1. Momentarily (I think) Gold is not anti-correlated to the market. They are actually correlated the last 12+ months. when the market dives gold dives. This should revert back to an anti-correlation when the market gets a handle on the time value of money (inflation and interest driven known unknown in the current market.).
2. There is an expectation of a Poseidon Bubble style boom in green metals Cu, Nickel, Cobalt, Cadmium, Zinc, Rare Earths etc... driven by the EV and "Greenification" into the future. It is a question of when and not how. In fact we can see that the prices of these green commodities is quite elevated even in the current Bear Market.

This brings us to the paradox. If you have diversification in mind but can only own 1 stock for the rest of your days. Which stock would it be and why?

I'll give you my answer after you give me yours but you probably know my answer already.... Not ACL but it comes close based on the aging population mega trend.