Constellation-Energy
2 articles
- The Conviction-Weighted Restructuring of Portfolio Exposure
The 5% hurdle-rate regime sorts capital by asset duration, financing structure, and pricing power. Conviction-weighted portfolio restructuring captures structural rents — nuclear uprate rent, energy delivery premium, defense industrial base — while hedging the mechanical repricing risk of concentrated technology valuations. Calibrated probabilities for a 10–15% correction, a systemic bear market, and multiple persistence are illustrated.
- The Nuclear Uprate Rent: Why Existing Reactors Offer the Highest Returns
Increasing output from licensed, grid-connected reactors offers faster and cheaper firm nuclear capacity than greenfield construction. Scarcity rent accrues primarily to fleet owners with remaining uprate headroom.