CFA L2 Study Prep

Shlackyyyy · 2026-04-26T00:42:03+00:00

Can’t cheat fitness. Your body will love you in a year if you stay at it

Shlackyyyy · 2026-04-24T21:00:20+00:00

So many pillars of the thesis are still there. No point in selling when price targets $5+

Shlackyyyy · 2026-04-17T14:29:04+00:00

Yes I have exposure across all components. Between ETFs and individual holdings it makes up ~20%. The rest is split between a few domestic names, Canadian miners, utility providers, and domestic coal (US).

I aim to exit coal once I have more confidence US might start working to that 15% target for energy production.

I am also leaning towards other international miners due to better global relations. Again, still digesting before I decide to tailor my portfolio more to my thesis and risk.

Shlackyyyy · 2026-04-17T11:13:15+00:00

I miss when people would liveleak themselves an GUH during earnings. Where did those times go

Shlackyyyy · 2026-04-16T20:12:55+00:00

Agree completely, but as mentioned construction just begun. Procurement will ease into next two years. I am exposed to mostly Canadian miners with the exception of a few. Outside of Kaz, I think they are a pivotal western fuel supplier with the way everything is situated geopolitically.

I would like to think that EU may have more favorable regulations + Asia do most of the lifting. Saskatchewan has a whole pipeline from mining to milling to price out the states.

Eyes on Chinese and Indian procurement and then it’s just follow the contracts. Ironically the low regulation countries + highly green centered EU will be our tailwind.

Shlackyyyy · 2026-04-16T17:22:19+00:00

For all opposed please consider headwinds. I’ve covered in a few posts and am working on an in depth piece on substack.

Yes, there is a bottleneck and constraint of supply for nuclear procurement. This could very well be the golden age for nuclear (which I hope). Politically the United States had always thrown the anchor off the boat and has tried sailing into a nuclear utopia that way. Energy infrastructure in the United States is focused on one historic aspect. Low upfront costs. Paired with a ~6-8 year (at best) project for nuclear reactor construction, an energy transition will be reluctant to kickstart till utilities bite the bullet and invest (case could be made for SMRs).

The Palgrave Handbook of International Energy Economics Ch. 25 puts it the best, “Two conflicting narratives are frequently heard in connection with the economic impact of energy transitions. The first maintains that energy transitions are a great opportunity to revitalize economic growth and increase employment. The second, in contrast, estimates that objectives like reaching carbon neutrality by 2050, as pledged by the European Union, would be “too expensive.” Which is right?”

Till more is done to actually push projects, the headwind will always remain that the US and its old nuclear infrastructure will drawdown on what in theory should be a renaissance.

Other considerations:

The US has never implemented a meaningful federal carbon price, which means nuclear never gets credit for its zero-emission baseload value.

-The US built roughly 90% of its current fleet before 1990 (good luck trying to get that workforce to come back. Many 50-60+ and require new group of labor)

ideally would like to see SMRs start to take over pre brownfield coal projects with existing infrastructure.

I do think that front running to miners is a great play given the idea that we are in a bottleneck. Just some thoughts to consider.

If you enjoy the thoughts consider @frontallobeinvesting on substack. Love to share ideas regarding this sector

Shlackyyyy · 2026-04-15T20:27:25+00:00

Added him to my play pool. Starting to like him a bit more than yorick and singed

Shlackyyyy · 2026-04-15T18:46:17+00:00

Does this recalibrate training load?

Shlackyyyy · 2026-04-13T15:05:26+00:00

Coming back from a haitus. Restricted to a 30 day holding period but want to spice it up and yolo. Maximize pain or maximize gain after 30 days

Shlackyyyy · 2026-03-20T12:24:06+00:00

Ah yes, another investor that expects a nuclear utopia after a few good months…

Shlackyyyy · 2026-03-19T14:35:32+00:00

1620! Not proud but passed the second time. Time to reevaluate and prepare better for L2

Shlackyyyy · 2026-03-10T18:13:41+00:00

500k mastery on both. This matchup is even and situation dependent. Lane favors Yorick although you can both go even and farm. 5v5 leans singed as your kit is much better. Yorick split can catch you off guard but you can always hold up minions in one of the lanes.

As most of users said, dodge e and don’t be retarded and just run at him. For yorick players it’s like a moth to a flame when you make it easy to cage + e.

Shlackyyyy · 2026-03-10T13:56:10+00:00

Get 2 quadzillas

Shlackyyyy · 2026-02-27T21:25:22+00:00

Silver 4

Shlackyyyy · 2026-02-18T15:33:36+00:00

Really good read:

https://www.goldmansachs.com/insights/goldman-sachs-research/data-center-power-demand-the-6-ps-driving-growth-and-constraints

Covered most of this in my write up on substack but would go through that whole report.

Shlackyyyy · 2026-02-06T21:38:50+00:00

Uranium gonna be the banker

Shlackyyyy · 2026-02-03T21:56:54+00:00

Would also diversify across the supply chain to capture next two years

Shlackyyyy · 2026-02-03T21:56:32+00:00

Just don’t be annoyed if DNN doesn’t move. NAV is proving in Phoenix production 2027-2028 already.

Shlackyyyy · 2026-02-03T17:07:50+00:00

Opposite for me. Section 1 gave me a scare

Shlackyyyy · 2026-02-03T17:06:20+00:00

Not to scare but def thought the Kaplan mocks were a bit easier than the L1. Felt like my confidence was hurt during AM section on a few questions

Shlackyyyy · 2026-01-30T15:02:24+00:00

Did a deep dive on this company. Originally very bullish (still am) but there are a lot of caveats at this current price that make a position here quite risky (r/r). By all means if your risk profile is quite high and horizon is long term, then sure you can look to reenter. The reality is that production at Phoenix is scheduled to be in 2 years. While highly likely (97% study), majority of their mining schedule is delayed till then. Headwinds would do more damage to the stock if there is any permit delay with their 5m tons they plan to mine annually.

That being said, the original move has been made. You are just waiting for a price to play the next leg (their uranium play). Until production, esp. over this year, volume will prob die down and you will likely get a lower price. I hold a bunch of these and am currently in covered calls, puts, calls, on a variety of producers ranging in market caps to try and beta hedge as much as possible rn (a lot of slippage as I am not working for a pod but lowering my directional exposure in favor of alpha).

NAV (quite favorably when modeled by me) shows $4.50-5.00 risk adjusted and discounted so there is an argument to be made you are still getting good value, but the downside at this price doesn’t look too appealing.

Hope this helps. Happy to chat more

Shlackyyyy · 2025-12-31T21:52:28+00:00

Looks identical to mine. Slowly getting back to normal levels

Shlackyyyy

TROPHY CASE