The Trend In Uranium Prices "Remains Higher": Harris Kupperman
"...annual uranium deficits in in the tens of millions of pounds per year, and likely accelerating."
One of my favorite investors that I love reading and following, Harris Kupperman, has offered up his thoughts on uranium this week.
Harris is the founder of Praetorian Capital, a hedge fund focused on using macro trends to guide stock selection.
Harris is one of my favorite follows and I find his opinions - especially on macro and commodities - to be extremely resourceful. I’m certain my readers will find the same. I was excited when he offered up his latest thoughts, published below.
Please be sure to read both my and Harris’ disclaimers, located at the bottom of this post
I’m writing to you from Zurich, after attending the World Nuclear Association (WNA) meeting a few days ago in London. Last year, the meeting took place in the context of a high $50s (per pound) spot uranium price while this year’s meeting took place with a spot price closer to $80. Normally, a positive return like this would leave investors ebullient, and optimistic for the future. Instead, as I scroll social media, and field questions from friends, I notice a genuine sense of frustration, bordering on fatalism.
To me, this seems rather out of place when compared with reality, and the increasingly bullish sentiment from fuel buyers—hence the reason that I’ve chosen to type out this quick missive.