Mike Alkin of Sachem Cove Partners stops by The Business Brew to share his journey in uncovering the uranium investment thesis. Bill found out about Mike when he began listening to Mike's podcast in 2018/19. At that time, Mike was telling everyone that would listen about how asymmetric the opportunity was. Mike interviewed industry insiders, other investors, and laid out his thesis in public. Bill found it inspiring.

This conversation dives deep into the complexities of the uranium market. The discussion includes a detailed analysis of nuclear power, supply-demand dynamics, and the industry’s challenges. Mike also provides valuable advice for young analysts and highlights the significance of contrarian investing. Additionally, they explore recent advancements in nuclear energy and the evolving markets of EVs, wind, and solar energy.

As always, this episode is for educational and entertainment purposes only, not financial advice. 

  Michael (Mike) Alkin is a principal of Sachem Cove Partners, LLC, the general partner of Sachem Cove Special Opportunities Fund, LP. He is also the Chief Investment Officer of Public Equities of Lloyd Harbor Capital Management, LLC, the investment manager of the Fund, and in that role is responsible for the Fund’s investment process. He has nearly 30 years of hedge fund experience with extensive investing experience across many cyclical industries. Prior to Sachem Cove and Lloyd Harbor, he was an analyst and partner for 7 years at Knott Partners. Prior to Knott, amongst the firms where held similar roles were Walker Smith Capital, Zweig-DiMenna, and Windsor Partners. Detailed Show Notes

00:00 Welcome to the Business Brew 

00:08 Introducing Mike Alkin and the Uranium Thesis 

00:48 The Inspiration Behind the Podcast 

01:21 Disclaimer and Acknowledgements 

02:32 Deep Dive into the Uranium Market 

05:26 Challenges and Insights in the Uranium Industry 

09:13 Understanding Market Dynamics and Investor Behavior 

12:50 The Journey to Conviction in Uranium Investment 

17:40 The Role of Nuclear Power in the Energy Market 

42:39 The Impact of Geopolitical Risks on Uranium Supply 

44:32 The Fuel Cycle and U.S. Fuel Buyers 

45:23 Challenges with Industry Forecasts 

46:11 Presenting at the NEI Conference 

47:09 Confrontations and Convictions 

48:56 Expert Networks and Market Misconceptions 

52:10 Global Nuclear Power Dynamics 

01:01:24 Kazakhstan's Uranium Production 

01:10:42 The Future of Nuclear and Renewables 

01:18:01 Investment Strategies and Advice 

01:22:26 Conclusion and Final Thoughts