00:00 Speaker A
I love nuclear and weirdly, I’m sad to say it or scared to say it maybe, I like solar.
00:05 Speaker B
Why are you scared to say that you like solar?
00:07 Speaker A
Well, because everyone hates solar and solar is clearly has not been treated favorably by the president. I think whenever the president talks about energy, he’s very focused on clean coal. I think they’re moving towards nuclear. You’re seeing, I think deregulation that will allow the nuclear plants to grow, so that’s going to be a huge winner. But I think he’s also being advised that, hey, you might hate solar, but it’s probably the single best way to get up and running in the next three to five years. If we want to put some baseline on, as we build out coal, nuclear, solar is going to win and Trump is willing to pivot. He might hate it today, but I think he can come up with reasons and he does listen to his advisors.
00:54 Speaker B
Well, and if that’s where people want to put their money in terms of invest, you know, if people need that energy and they’re putting money there, they’ll follow that to some extent. On the nuclear front, I mean, some of those plays are also very speculative. Sure, we have the big energy companies that already own nuclear assets, right? But then you have the small modular reactor companies that don’t actually make anything yet and won’t for the next few years. Do you also, you know, make a bet on those?
01:34 Speaker A
So, I think you can make a small bet on those. One thing we’re uh one of our retired generals, General Waddell, um, you know, he was poking around on the Department of Energy website. There are 70 nuclear projects, you know, in approvals that have been approved, but only one has the regulatory approval. I think that’s going to accelerate and we’re going to see a lot more of those. The US Army just announced that they’re actually going to put small nuclear reactors on some of their base. So, I think you’re going to see growth there. I think you I like the need for uranium, but I also do think you’re right to, you know, invest in some of the big people, right? The big, I always think the energy companies of the future are often the energy companies of today. They have thousands of PhDs who’ve been excellent extracting energy from this planet and how they do it is shifting. And I think they will embrace and figure out nuclear as well. So, I think you want to be kind of across the board in big caps. And what I like about the utilities and even big energy, they’re clearly not overbought. In fact, some are underweight. So, I don’t think you have to that bubble risk. If I’m wrong on my thesis, maybe you go down a little bit. If I’m right on my thesis, you get maybe 20, 30, 40% gains in the big caps and, you know, doubles and triples in your kind of lottery picks, knowing that one or two are probably going to go awful.