Q1: Lithiumion batteries are emerging as an instrumental part of the electriccar revolution, resulting in significant disruption to the autoindustry. As a result the price of lithium has increased substantially since 2015. However, some argue the lithium market lacks transparency. What is meant by transparency in financial markets? What impact do you think it will have on investors? Identify some reasons why the lithium market is considered opaque.

Q2: In last week's lecture we discussed the value captured from unusual or "boring" investments. Anthony Pratt (currently Australia's richest person) recycles and manufactures cardboard boxes. How has Pratt made his fortune?

Q3: In the lecture we discussed an alternative (indirect) approach to investing in lithium - a pick and shovel strategy.

(a) Whatisapickandshovelstrategy?

(b) Find a pick and shovel stock (historical or one you think might be one in the future) and explain why it is a pick and shovel play.

Q4: Use Porters 5 Forces to analyse the competitiveness of mobile phone manufacturers and discuss why Apple is so profitable.