Donald & Friends have unfortunately thwarted my investment plan somewhat.... (for now)

Since I have just presented my entry and the topic, including the "missed" opportunity, is close to my heart, I will probably work through it right away.

To cut a long story short, when I started investing, I actually wanted to put everything into nuclear technology stocks, but when I started without thinking, some doubts caught up with me. Absolute newcomer to investing, everyone advises me to buy something else, the field is still relatively unexplored.

After I had made my first purchases $CCO (-2,64 %) and $UEC (-3,24 %) (at the current high at the time) I became humble for the first time, after a short time around -25%.

On the WL were $BWXT (+0 %) and $LEU (-5,01 %) (bought here briefly and thought we were massively overvalued at 60 euros 🤣)

Fast forward, I preferred to bet on stable stocks, including dividend payers, and deviated from my gut feeling, as it already seemed a bit risky.

The nuclear sector has done incredibly well, even I didn't expect that and somehow I don't see an end at the moment.

I had planned this month/beginning of next month to finally get into $NXE (-0,06 %) and increased my position in $CCO (-2,64 %) to around 70 euros after the small correction. So far everything seemed fine, we have fallen. I wanted to increase my Cameco position in the range of approx. 65-70 euros and also enter Nexgen.

After my small regrouping in the portfolio, there was enough money left over to enter Nexgen "in time" and I collected my first 100 shares on October 24. The next day (I should have been happy) I was shocked when Cameco shot up and the 80b$ deal was done.....

The joy of my first share with +100% is definitely there, but I would have liked to buy a lot more, as I see much more potential.

Now I'm currently thinking about how the market will realign itself, you read more and more about the sector, more and more people think uranium is great and apparently we're only now moving up again? But wasn't that also the case at the beginning of '24? Back then I bought blindly, and shortly afterwards the sell-off came. The shares were "overvalued" and still outperformed.

Where are we now? To be honest, I wanted to add to the stock before the deal and see what happens during/after the Nuclear Exhibition in Paris from 04-06 Nov happens.

Since the prices have already run away, possibly also due to profit-taking, I will probably wait until the situation calms down and the exhibition is over.

For me, however, nothing has changed in principle, I won't be selling any more shares in CCO/NXE but rather adding to them. I'm still super bullish and won't let myself be influenced too much.

Why is $CCO (-2,64 %) an investment?

• Absolute blue chip in the nuclear sector with solid figures
• All-rounder - uranium is mined in its own high-yield mines and is also processed in a wide variety of ways
• Shareholder in Westinghouse (service; maintenance)
• Partnerships with Bruce Power & Nordion (Co-60 provision / Healthcare)
• Moat (regulations, expertise, etc.)

When talking about a renaissance, Cameco cannot and should not be excluded. There are many long-term contracts in this industry, the manufacturer/producer can virtually choose its customers and call up prices. If you don't get nuclear fuel in time, you can't supply energy (predictable income).

The push is becoming more and more real, which country apart from Germany is NOT talking about an extension of operating times and new builds?

In 2023, the nuclear phase-out in Spain was still unchallenged, and there are currently plans to extend the Almaraz NPP, for example $IBE (+0,13 %)

The same is currently being discussed in the Netherlands; Borssele is to continue operating and also offer a site for new reactors.

In addition to Cameco, I have added Nexgen to my portfolio $NXE (-0,06 %)

• Is in a good financial position (dilution will come)
• Has promising projects
• Management seems to know what is important
• Unfortunately only a pure uranium supplier, should it come to production
• (My thought, if it gets that far possibly interesting for a takeover see above)

I continue to find the sector super exciting and am looking forward to whatever may come, if prices remain high I will probably buy more anyway. Despite the "hype", I think there is still a lot of potential here, although the relatively high risk should also be kept in mind.

If something unforeseen happens here, the furnace can be out again immediately.

What do you think about this sector, do you think we are more than overvalued or is there still potential? I would be delighted to hear your thoughts on this.

Until then 🧐

Reading time: approx. 6-7 minutes

A few weeks ago, I described the structural appreciation of the uranium market as part of the supercycle approach: Supply deficits, geopolitical upheavals and the political turnaround in favor of nuclear energy mark the beginning of a multi-year uptrend. Today, reality provides the next piece of evidence - and $CCO (-2,64 %) (Cameco) is at the center of it.

Together with Westinghouse Electric and Brookfield Asset Management, the Canadian company is participating in a new $BAM (+0,06 %) Brookfield Asset Management in a new 80 billion US dollar energy offensive by the US government. The aim is to massively expand nuclear power capacities in the United States. The initiative is more than just a political signal: it is seen as a turning point in industrial policy and is intended to cover the entire cycle of civilian nuclear energy - from uranium mining to fuel processing and reactor technology. Supported by state guarantees and tax incentives, it marks an attempt to reduce dependence on Russia and China in the global uranium market.

For Cameco, this represents a decisive step: the Group, previously one of the largest uranium producers in the world, is increasingly becoming a political and economic partner of the Western energy transition. The combination of technological expertise, access to first-class deposits and now also political backing gives the company a strategic role that goes beyond simply extracting raw materials.

For me, today's news underlines why uranium is currently one of the most exciting sectors for long-term investors. My own supercycle portfolio reflects this logic: a tiered exposure along the entire value chain - from producers to physical storage companies. Cameco forms the core, the foundation of the positioning. In addition, I rely on $YCA (-1,18 %) (Yellow Cake) as a direct lever on the uranium price, as the company physically stores real stocks and thus offers pure price exposure. $NXE (-0,06 %) (NexGen Energy) stands for the exploration growth portion: a developer that controls one of the most promising uranium deposits in the world with the Arrow project in Canada. $DML (-1,08 %) (Denison Mines) contributes technological diversification - the focus is on the in-situ recovery method, which is intended to make uranium mining more efficient and environmentally friendly. Finally $PDN (+1,92 %) (Paladin Energy) complements the geographic diversification with a strong production focus in Namibia - a leverage to the supply shortage outside North America.

Together, these five stocks form a balanced cluster of substance and dynamism. Cameco and Yellow Cake stand for stability, NexGen, Denison and Paladin for speculative momentum in the early cycle. It is precisely this mix that is characteristic of phases in which structural scarcity coincides with political tailwinds.

Today's US initiative fits into a bigger picture. Nuclear energy is making a comeback worldwide: France is extending operating times and planning new EPR plants, Japan is reactivating reactors, China is continuously expanding its network, while countries such as Poland, the Czech Republic and Finland are initiating their own projects for the first time. After decades of underinvestment, there is a massive surge in demand - and supply is barely growing. Cameco controls some of the most productive mines in the world and is benefiting directly from the structural deficit.

The current cycle is following a familiar pattern: first prices stabilize after a long bear market, then political programs and investment waves meet tight capacity. We are right in the middle of this acceleration phase. The momentum is not the result of short-term speculation, but of real bottlenecks and industrial policy realignment.

Of course, the environment is not without risks. After the strong performance of recent quarters, temporary consolidations are possible, and uranium prices are also sensitive to geopolitical shifts. Regulatory uncertainties regarding new projects could also delay schedules. But the overarching story remains intact: Nuclear power is back - and with it those companies that supply the fuel.

Cameco is at the forefront of a growing ecosystem that stretches from Canada to Australia and Namibia. Participation in the US's 80 billion offensive shows that uranium is no longer a marginal issue, but is seen as a security policy factor. Investing in this super cycle at an early stage means investing not only in energy, but also in geopolitical stability.

Reading time: approx. 6-8 minutes

The 10B model is my attempt to systematically identify tenbagger candidates. The aim is to find companies that realistically have the potential to grow tenfold over the next few years. Of course, this will only work for very few - but even one hit can shape a portfolio.

The basic rule: size matters. A tenbagger rarely starts at 200 billion market capitalization. The entry hurdle in the model is therefore less than 10 billion euros. Companies in the EUR 1-5 billion corridor are the most exciting because they still have growth potential but are no longer pure early-stage gambles.

I set up the screening with ChatGPT - for data collection, pre-filtering and peer comparisons. Exciting candidates are followed by manual checks: annual reports, management calls, competitive position, balance sheet quality.

Criteria (scoring 0-20 points each, 100 in total):

• Growth & profitability: strong sales growth (ideally > 20% p.a.) and progress in profitability. Ideally, the Rule of 40 (sales growth % + operating margin % > 40) is fulfilled.
• Moat: sustainable competitive advantage (technology, network effects, market access, regulation).
• Market size: addressable market ideally ≥ 10× current market capitalization.
• Financial stability: solid balance sheet, debt ratio < 3× EBITDA, sufficient cash buffer.
• Valuation & momentum: multiples vs. growth, downside scenario, timing (e.g. RSI).

Interpretation: > 80 points = real 10B candidate; 70-79 = watchlist material; < 70 = mostly quality stock without tenbagger potential.

$INOD (-0,15 %) Innodata - ≈ USD 2.7 bn / ≈ EUR 2.28 bn - 74 points (in the portfolio)

Growth & profitability: 15/20 - strong double-digit growth, but still volatile.

Moat: 12/20 - niche IP and data sets, but no insurmountable moat.

Market size: 17/20 - AI data services highly scalable.

Financials: 12/20 - freshly profitable, but still volatile.

Valuation & Momentum: 18/20 - very hot (RSI > 70).

Exciting stock, but the momentum masks the financial fluctuations - watchlist for me, not core.

$AMPX Amprius Technologies - ≈ USD 1.6 bn / ≈ EUR 1.36 bn - 73 points (watchlist)

Growth & profitability: 15/20 - great potential in the battery and aviation sector, still early stage.

Moat: 16/20 - technology clearly differentiated, provides lead in certain segments.

Market size: 18/20 - batteries remain a global multi-billion topic.

Financials: 8/20 - high CapEx, no positive cash flow yet.

Valuation & Momentum: 16/20 - volatile but attractive valuation.

An exciting innovation stock - if the transition from pilot to series production is successful, this could be exciting.

$NXE (-0,06 %) NexGen Energy - ≈ USD 5.0 bn / ≈ EUR 4.26 bn - 76 points (watchlist)

Growth & profitability: 14/20 - no revenues yet, but clear leverage at project start.

Moat: 15/20 - high-quality uranium reserves, strong project know-how.

Market size: 18/20 - uranium is experiencing a global surge in demand.

Financials: 12/20 - good cash, but dilution risks after capital rounds.

Valuation & Momentum: 17/20 - positive sentiment in the uranium sector, clear trend.

NexGen is closely linked to my contribution to the uranium supercycle - for me one of the most exciting levers in the energy sector.

$NICE NICE Ltd - ≈ USD 9.1 bn / ≈ EUR 7.77 bn - 79 points (watchlist)

Growth & Profitability: 18/20 - Cloud & AI drive CX platform, Rule of 40 fulfilled.

Moat: 17/20 - technological depth, high customer loyalty.

Market size: 18/20 - huge CX/AI potential.

Financials: 16/20 - strong cash flow and margins.

Valuation & Momentum: 10/20 - expensive, timing is critical.

Top quality - but I would be patient and wait for better entry windows.

$NU (+0,43 %) Nu Holdings - ≈ 73-75 bn USD / ≈ 62-64 bn EUR - 85 points (in portfolio)

Growth & Profitability: 19/20 - high double-digit customer growth, profitability significantly improved.

Moat: 15/20 - strong brand and network effects, but intense competition.

Market size: 20/20 - Latin America with huge address market; US expansion underway.

Financials: 16/20 - stable margins and high capital ratio.

Valuation & momentum: 15/20 - ambitious, but covered by growth.

A quality stock and good benchmark for the model - but at over EUR 60 bn no longer a classic 10B candidate; a tenfold increase from this level is unlikely.

These examples show how differently candidates perform in the 10B model. INOD, AMPX, NXE and NICE are between 73 and 79 points and are therefore exciting watchlist material with clear triggers. NU stands out with 85 points, but no longer fulfills the original "below 10 billion" rule - here I am more interested in confirmation that the model criteria work and that a company can grow strongly in the long term.

The 10B model is not a promise of returns, but a tool for filtering out the most exciting companies at an early stage and then critically examining them. The combination of systematic screening and manual analysis ensures that fantasy and reality are clearly separated - and in my opinion, this is where the best opportunities arise.

Next, if there is interest, I will introduce my Hidden Quality Radar (HQR) - a framework that attempts to identify "under the radar" quality scores through 100-point scoring and link them to visibility factors.

What do you think of the approach - and which small/mid caps under 10 billion would you currently place in the 10B category?

From time to time, there are movements on the markets that last longer than a normal upswing. This is known as a super cycle - a phase in which certain commodities or technologies are in demand for many years and their prices rise significantly. This is usually due to fundamental changes in the economy and society.

A well-known example is China in the 2000s. Rapid construction activity and industrialization led to raw materials such as iron ore or coal becoming increasingly expensive over the course of a decade. In this context, there is often talk of the "commodity supercycle", which was driven by the massive demand of Chinese construction and industrial policy. In recent years, this is how I perceive the technology sector in particular: cloud services, automation and artificial intelligence have caused demand for semiconductors to explode.

I currently have the impression that new super cycles could be on the horizon again. In the uranium sector in particular, it is noticeable that many countries are bringing nuclear energy more into play. This is already reflected in my own portfolio. I differentiate between core stocks and leverage stocks. The core stocks are my basic investments: $CCO (-2,64 %) (Cameco) and $YCA (-1,18 %) (Yellow Cake). Both are established, comparatively stable and form the foundation on which my uranium strategy rests. Leveraged stocks, on the other hand, are more speculative and react much more strongly to market movements. Here I am betting on planned positions in $NXE (-0,06 %) (NexGen Energy), $DML (-1,08 %) (Denison Mines) and $PDN (+1,92 %) (Paladin Energy). I have currently set orders for these stocks, which will only be executed when the risk/reward ratio is right. This allows me to build up the positions in a controlled manner and keep the risk within limits.

Another example of a possible super cycle is the defense industry. Prices there have already risen sharply in recent years, driven by geopolitical tensions and rising defense spending. I personally missed this trend - but this is precisely the lesson: markets move in waves and anyone who misses a cycle should not look back, but forward. Because there are always new opportunities if you recognize the structural changes early on.

In addition to uranium, copper could also play a role again. The major producers in particular $FCX (-0,75 %) (Freeport-McMoRan) and $SCCO (-0,9 %) (Southern Copper) are particularly interesting if the global grid expansion and electrification actually trigger a new boom in demand.

I am interested: What's your take on this? Is a new super cycle emerging here, especially in the uranium sector - or is this more of a short wave? Which stocks do you think are exciting and what strategies are you pursuing yourself?