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Kuppy and Mike Alkin “Uranium” Interview at the 2023 World Nuclear Association Symposium
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Harris “Kuppy” Kupperman sits down with Mike Alkin, CIO and Founder of Sachem Cove Partners from the floor of the 2023 World Nuclear Association (WNA) Symposium to discuss how attending this conference has opened both of their eyes to the unique mindsets that pervade the nuclear power industry. Filmed September 8th, 2023, in London.
At this point industry conferences are ubiquitous across Wall Street, but usually large public companies dominate the events, booth babes abound, buysiders compete for meetings with management teams, and whether it is the TAM of the industry itself or the story from a particular company, it feels like everyone is trying to sell you something. That is not what the WNA feels like to Kuppy and Alkin. Instead, the majority of the attendees are within the industry, with only a handful of investors even bothering to attend. Those corporate attendees who dominate the event are largely privately held or quasi government entities who answer questions matter-of-factly and still don’t fully understand why the hell anyone form Wall Street even cares about their niche sector.
Whether it is the industry’s apparent uranium price agnosticism, anchoring of expectations to the recent past, willingness to accept their own projections at face value, or lack of concern over where they will acquire uranium in spite of the growing acknowledgement that supply-demand deficits are very real, both Alkin and Kupperman agree you can’t fully understand just how differently this industry operates until you come and see it for yourself.
Alkin also highlights that in spite of how slow the industry can be to recognize shifting dynamics that the tone at the 2023 WNA has markedly changed since he first started attending the event over 5 years ago. From fuel buyers who used to tell him uranium would never again cost more than $20/lb begrudgingly acknowledging that it looks like a new bull market is well underway to management teams that he used to corner in elevators just to get 5 minutes of face time offering to sit down for hour long meetings, it’s clear that rising uranium prices are no longer being ignored.
Don’t forget to read our blog on the 2023 WNA experience, “The Bigger Short”.
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Past performance of Praetorian Capital Fund LLC and its feeder fund Praetorian Capital Offshore Ltd. (collectively, the “Funds”) is not indicative of future results. No representations or warranties of any kind are made or intended, and none should be inferred, with respect to the economic return or the tax consequences from a potential investment in the Funds. Each investor should consult their own counsel and accountant for advice concerning the various legal, tax and economic matters concerning their investment. The information provided herein does not constitute an offer to sell an interest in the Funds. Such offer can only be made to qualified investors pursuant to the Funds’ Confidential Private Placement Memorandum (“Offering Memorandum”), the Subscription Documents relating thereto and the Limited Liability Company Agreement, as applicable, which set forth the complete terms of the offer.
No representation or warranty (express or implied) is made or can be given with respect to the accuracy or completeness of the information found within this website. Certain information constitutes “forward-looking statements” about potential future results. Those results may not be achieved, due to implementation lag, other timing factors, portfolio management decision-making, economic or market conditions or other unanticipated factors. Nothing contained herein shall be relied upon as a promise or representation whether as to past or future performance or otherwise.
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