Charlie Munger – Warren Buffett’s business partner – is famous for saying “When the opportunity presents itself use a shovel not a spoon“.

If you’re new to the uranium thesis, please read my previous posts here.

One of the goals of the Portfolio is to reproduce my personal investments. And I’ve been investing in uranium miners recently. So why shouldn’t I be doing the same in the Portfolio? Because buying miners is risky and it doesn’t match the values that I’m trying to convey here in All in Stocks – that thorough analysis and investment in good companies is the way for the common investor to build long term wealth. And miners are lousy businesses. Probably the worst businesses ever.

But the opportunity is right in front of me. It has been since I found it back in 2019. And recently, there has been positive news after positive news: the Japanese are restarting their nuclear plants, China is increasing the number of new nuclear reactors from 8 per year to 10 per year, the energy crisis created by the invasion of Ukraine… Even Germany is extending the lifecycle of their nuclear power plants.

I believe that uranium stocks will go up in the coming years. In fact, they have gone up by a lot already. And I missed it. I’m not going to miss it now. 

The way you buy miners is to buy a basket of them because there is a strong possibility that some of them won’t make it. So the easiest way to do it without much trouble would be to buy one of the 2 pure-play Exchange Traded Funds (URNM or HURA). But, unfortunately, they’re not available for retail investors through DeGiro or InterActive Brokers. That’s why I’ve been buying individual miners instead. 

As I have done little work on any individual company, I won’t be writing about them. What I’ve done was to choose stocks from both ETF’s.  You can find a list here and here.

I’m certain that I’ll be losing money in some of them, but overall, I expect to make some nice profits.

The hard part will be knowing when to sell. As a general principle, I’ll be looking to sell when things get really bubbly (as Rick Rule put it – when we see him on CNBC for the 5th time).

To finalize, I can’t stress this enough: There is a strong risk of this investment going to zero (or near). If there’s a nuclear disaster, believe me, these stocks are going down immediately. And the fact that the largest nuclear plant in the world is currently a trophy asset for two countries at war increases the chances of something going really wrong.