Hedgeye Investing Summit Spring 2026 | Josh Crumb & Jeff Currie, Abaxx Technologies

Why It Matters

The shift redefines portfolio risk, making commodity exposure and reliable physical pricing essential for preserving returns in an inflation‑driven environment.

Key Takeaways

• War accelerates shift from asset‑light to asset‑heavy investments
• Oil supply shock cuts 10% global output, inflates spot prices
• Forward oil prices stay low, signaling market underestimates shock
• Multi‑factor strategy: long commodities, short technology yields super‑cycle gains
• Abaxx builds physical clearinghouse, creating reliable LNG and commodity benchmarks

Summary

At the Hedgeye Investing Summit, Jeff Currie and Josh Crumb explained how the Iran‑Strait‑of‑Hormuz crisis is reshaping the commodity landscape and why their firm Abaxx Technologies believes the market is entering a new super‑cycle.

They argue the war has turbo‑charged a long‑running rotation from “asset‑light” technology stocks to “asset‑heavy” commodities. A 10 % cut in global oil output has pushed spot crude above $110 while forward contracts linger near $70, suggesting the market still treats the shock as temporary. The resulting supply gap fuels inflation expectations and revives the halo‑hard‑asset narrative.

Currie noted, “We have lost nearly a billion barrels – the biggest supply shock ever,” and Crumb added that investors who were long commodities and short software this year would “feel like Stan Druckenmiller.” Abaxx positions itself as the “Federal Reserve of molecules,” offering a physical clearinghouse that guarantees both price and quantity, especially for LNG where no global benchmark exists.

For investors, the takeaway is to overweight commodity‑linked assets and hedge against tech‑heavy exposure until physical markets stabilise. Abaxx’s infrastructure could become a critical pricing reference, giving its shareholders a strategic advantage as the world pivots toward asset‑heavy investments.

Original Description

**This webcast originally aired live on Hedgeye.com on April 22, 2026**

This is an exclusive "Hedgeye Investing Summit" interview between Josh Crumb, Founder & CEO of Abaxx Technologies, Jeff Currie, Director at Abaxx Technologies & Fmr. Global Head of Commodities, Goldman Sachs, and Hedgeye CEO Keith McCullough.

To watch more "Hedgeye Investing Summit" interviews: https://app.hedgeye.com/insights/180431-hedgeye-investing-summit-spring-2026-your-access-links-to-watch?type=macro%2Cmarket-insights

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