Uranium Enrichment Finds its Own Renaissance

Before operators can use uranium as reactor fuel, workers must enrich it. Currently, U.S. utilities, the owners and operators of the commercial reactor fleet, buy about 75% of their enrichment services from foreign countries. With national energy security coming into focus in light of ongoing global conflicts, the enrichment industry is having a renaissance of its […]

Rethinking Benchmarks: Market Concentration & Discount Rates

To borrow from an ancient proverb, the world of passive indexing is living in interesting times. Historically, broad market benchmarks like the S&P 500 were assumed to offer comprehensive, self-correcting exposure to U.S. stocks. However, when a tiny cohort of megacap technology names comprises an outsized portion of market performance and earnings growth, the fundamental […]