HT Ganzo A strategist from a brokerage firm is not the investor type I tend to put a lot of faith in. I've just seen too much since 1993, when I had the privilege of sitting in a big room early every morning with Barton Biggs, Byron Wien and Stephen Roach, three of the best ever in my opinion. That was back at Morgan Stanley, more than 30 years ago.
Fast-forward to 2024, and Mike Wilson, the current Chief U.S. Equity Strategist & Chief Investment Officer at that same firm, said something on a podcast the other day that summed up how I think of many parts of the investment market, including Uranium, the subject of this article.
Wilson said that he is constantly asked if he is bullish or bearish, and he responds by saying he is always both, depending on what asset we are talking about. I was like, "what he said!" THAT is investing, not trying to solve eternal riddles like "what's the S&P 500 going to be at year-end" and "is it a good time to buy stocks," or the epic, "I went to all cash, so when should I get back in?" This is all non-investor activity. It is turning a serious business into a game.
No thanks. And with that rant to introduce my thesis out of the way, here's my take on the Global X Uranium ETF ( NYSEARCA: URA ), which I last wrote about in January of this year . My conclusion was: The only thing holding me back from buying this ETF right now is the price.
URA is currently trading at over $29, and well above its 200-day moving average. That's not a great reward/ris.
