Young Oklo, a sprightly upstart, tripled its worth, while Centrus Energy and Cameco, solid names, both had a right fine year. Even that VanEck Uranium and Nuclear ETF (NLR +2.86%), a bundle of shares if ever there was one, gained over 50% in twelve months. A heap of excitement, to be sure.
GDX, you see, don’t buy you gold directly. It buys shares in the companies tryin’ to pull it outta the ground. GLDM, now that’s a different kettle of fish. It aims to mirror the price of the metal itself, pure and simple. It’s like the difference between ownin’ a claim in a gold mine and holdin’ a nugget in your hand. One’s a gamble on the miner’s skill and fortune, the other’s just… well, gold. Let’s have a look at how these two stack up, shall we?
His Majesty, President Trump, had, it seemed, entertained a fancy for the acquisition of Greenland, declaring his intentions “one way or the other.” A threat of levies upon the commerce of eight European nations was, for a time, considered as a means to encourage a favourable arrangement, whereby the territory might pass under American control. Fortunately, a more conciliatory course was adopted, and it is understood that discussions proceed toward a mutually acceptable understanding. One hopes, for the sake of all concerned, that good sense will prevail.
Indeed, it is frequently not the most loudly proclaimed novelty that offers the surest prospect, but rather a concern which, though perhaps lacking in ostentation, demonstrates a consistent and admirable propriety in its conduct. Costco Wholesale, it would seem, falls decidedly into the latter category.
This isn’t a story of giants clashing, though they certainly will. It’s the story of a smaller field, a company called Nebius Group (NBIS 0.55%), tending a patch of cloud where the seeds of AI can take root. They don’t offer everything to everyone, these folks. They offer capacity – the raw muscle of computation, the gleaming processors of Nvidia, carefully arranged and offered to those who need it. It’s a simple thing, really. To provide what others can’t, or won’t.
It’s been doing rather well, the stock has. Up, up, up. But still under $18 as of today, January 20, 2026. Which, naturally, raises the question: is it a buy? A sensible question, I think. A financially responsible question. Although, let’s be honest, my track record with “sensible” investments is…patchy.
The independent power providers, those valiant, if somewhat predictable, souls – Constellation Energy and Vistra – have already begun to tremble. Their stock prices, predictably, have wilted under the shadow of potential price caps. But amidst this predictable drama, a curious bloom appears: GE Vernova (GEV 2.48%). It surges, not with triumphant fanfare, but with the quiet confidence of a craftsman who knows his tools are in demand. They, it seems, are well-positioned to provide the very turbines and grid solutions this frantic buildout requires. A tidy situation, wouldn’t you agree?
The prevailing wisdom, endlessly repeated by the oracles of the financial districts, is to mirror the S&P 500, to surrender to the tide and hope for a respectable drift. A sensible strategy, perhaps, for those content with merely keeping pace, but a passive acceptance of fate for those who believe in the possibility of exceeding it. The pursuit of exceptional returns often leads investors down treacherous paths, tangled in the complexities of fleeting trends and speculative bubbles. Yet, there exists a more subtle route, a path paved not with explosive growth, but with the unwavering consistency of dividends—a quiet rain nourishing a patient garden.
See, everyone wants more ‘intelligence’ in their machines. Artificial Intelligence, they call it. Sounds grand, doesn’t it? As if you can just add intelligence like sprinkling fairy dust. It’s more like coaxing a particularly stubborn imp to do your bidding. And all this intelligence requires… well, things. Tiny, complicated things made of silicon. Nvidia makes the flashy bits, the ones that shout ‘Look at me!’ But increasingly, the big players – the hyperscalers, as they’re annoyingly called1 – are realizing that shouting isn’t always the most efficient way to get things done. They’re turning to Application-Specific Integrated Circuits – ASICs – custom chips designed for a specific task. Think of it as commissioning a master craftsman to build you a single, perfect tool, rather than buying a box of vaguely useful implements.
FBTC buys the thing. BITQ buys the idea of the thing. One’s a lever directly on the price, the other a complicated Rube Goldberg machine. Both aim to capture the same updraft, but with different degrees of… well, directness. It’s about how much control you want, or how much you’re willing to surrender to the whims of management and market sentiment. A trader understands that. It’s all levers, isn’t it?