Physics vs. Equity Fairies: The Hard Truth About AI Power

Benny & The Squirrel: Episode 23 with Tom Jens.

Benny & I sat down with Tom Jens, Founder and CIO of Black Oak Capital, on Friday afternoon. I am not sure whether - at least for me - that a period of 60 minutes has ever injected so much doubt into some of the consensus narratives running through equity markets. This is a must watch!

We discussed some of the prevailing equity market narrative surrounding the AI energy boom, arguing that “equity fairies” have detached valuations from the hard physics of the grid. Tom had me questioning many of my priors around uranium, LNG and other matters.

You can follow Tom on LinkedIn, where he posts infrequently.

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