AI Power Infrastructure Investment Series (5/5): Portfolio Construction & Risk Management

Executive Summary

After analyzing the industry backdrop, equipment landscape, nuclear economics, and grid constraints, we now construct actionable portfolios.

Key Investment Thesis:

AI datacenter power demand: 300 TWh (2024) → 945 TWh (2030) = 216% growth
Four validated plays: CEG (nuclear baseload), Vertiv (liquid cooling), Eaton (grid infrastructure), Bloom (on-site generation)
Time horizon: 3-5 years minimum (infrastructure cycles are measured in decades)
Risk profile: Lower than AI software (physical infrastructure is defensible moat)

Portfolio Recommendations:

Risk Profile	AI Power Allocation	CEG	Vertiv	Eaton	Bloom	Expected Annual Return
Conservative	30-40%	50%	25%	20%	5%	12-18%
Balanced	50-60%	40%	30%	20%	10%	18-25%
Aggressive	70-80%	35%	35%	15%	15%	25-40%

This article provides batch buying strategies, position sizing rules, rebalancing triggers, and a final investment checklist.

Portfolio Construction Framework

Investment Universe: Four Validated Plays

Based on value chain analysis from previous articles, we focus on four companies with defensible moats, pricing power, and AI-driven growth certainty:

1. Constellation Energy (CEG) - 35-50% of AI power allocation

Why dominant: 91% of nuclear fleet available for replication, Microsoft/Meta deals prove $70-110/MWh PPA economics
Moat: 20.1 GW nuclear capacity cannot be replicated (NRC approvals take decades)
Risk: Regulatory (NRC restart approvals), execution (TMI restart by 2028), nuclear incidents

2. Vertiv (VRT) - 25-35% of allocation

Why critical: GB200 racks require liquid cooling (120-132 kW/rack vs air’s 25 kW limit)
Moat: NVIDIA partnership, $8.5B backlog, $5-10M/MW switching costs
Risk: Execution (scaling production 10x), competition (Schneider Electric), margin compression

3. Eaton (ETN) - 15-20% of allocation

Why essential: Every datacenter needs transformers, switchgear, UPS (grid or on-site)
Moat: $11.4B backlog (+17% YoY), diversified end markets reduce AI dependency
Risk: Lower growth rate than Vertiv/Bloom, cyclical exposure to industrial markets

4. Bloom Energy (BE) - 5-15% of allocation

Why asymmetric: 1% market share (2024) → 27% (2030) if grid bottlenecks persist
Moat: SOFC technology bypasses 9-year grid queues, 90-day deployment vs 11-year grid connection
Risk: Unproven at scale, hydrogen fuel costs, utility policy changes, higher volatility

Conservative Portfolio (30-40% AI Power Allocation)

Profile: Retirees, income-focused investors, risk-averse individuals

Total Portfolio Example: $1,000,000

AI Power Allocation: $350,000 (35%)
Remaining: $650,000 in diversified equities, bonds, REITs

AI Power Breakdown:

Stock	Allocation	Dollar Amount	Rationale
CEG	50%	$175,000	Nuclear baseload is lowest risk (proven PPAs, regulated utility)
Vertiv	25%	$87,500	Liquid cooling is necessity, not option (GB200 physics)
Eaton	20%	$70,000	Infrastructure play with diversified revenue (not AI-only)
Bloom	5%	$17,500	Small asymmetric bet (high risk, high reward)

Batch Buying Strategy (Conservative)

CEG - 3 Batches:

Immediate (40% = $70,000): Buy now at current price (~$250-280)
- Rationale: Microsoft/Meta deals are signed, TMI restart approved
NRC Milestone (30% = $52,500): Buy when TMI restart receives final NRC operating license
- Trigger: Watch NRC press releases (expected Q2 2026)
Validation (30% = $52,500): Buy after TMI successfully restarts and runs 90 days
- Trigger: CEG earnings call confirms TMI commercial operation

Vertiv - 2 Batches (Conservative Risk Management):

Immediate (60% = $52,500): Buy now
- Rationale: $8.5B backlog already locked in, GB200 rollout underway
Quarterly Beat (40% = $35,000): Buy after 2 consecutive quarters of revenue/margin beat
- Trigger: Watch Q1/Q2 2026 earnings (should see GB200 revenue acceleration)

Eaton - Single Batch:

Immediate (100% = $70,000): Buy now
- Rationale: Lowest risk (PE 25x vs Vertiv 35x), diversified revenue, stable margins

Bloom - 3 Batches (Highest Risk, Smallest Position):

AEP Order (40% = $7,000): Buy only if AEP/utility announces large SOFC order
- Catalyst: Watch for press releases (AEP explored 1 GW SOFC in 2024)
Post-Earnings (30% = $5,250): Buy after quarterly gross margin exceeds 25%
- Trigger: Watch Q4 2025 or Q1 2026 earnings
Utility Proof (30% = $5,250): Buy after successful 12-month utility deployment
- Trigger: Wait for case study/press release from utility customer

Risk Management Rules (Conservative)

Position Limits:

No single stock exceeds 17.5% of total portfolio (CEG at $175K / $1M)
AI power allocation capped at 40% maximum

Stop-Loss Triggers:

CEG: Sell if NRC denies TMI restart or nuclear incident occurs (Three Mile Island déjà vu)
Vertiv: Sell if quarterly revenue growth drops below 10% for 2 consecutive quarters
Eaton: Sell if datacenter segment revenue declines YoY (indicates demand slowdown)
Bloom: Sell if gross margin drops below 15% (indicates unsustainable economics)

Rebalancing:

Quarterly rebalancing: If any stock exceeds target allocation by >30%, trim to target
Example: If Vertiv rallies from $87.5K to $120K (37% over target), sell $32.5K to restore 25% weight

Balanced Portfolio (50-60% AI Power Allocation)

Profile: Mid-career professionals, growth-focused investors, moderate risk tolerance

Total Portfolio Example: $500,000

AI Power Allocation: $275,000 (55%)
Remaining: $225,000 in diversified equities, bonds

AI Power Breakdown:

Stock	Allocation	Dollar Amount	Rationale
CEG	40%	$110,000	Still largest position (nuclear moat) but room for growth plays
Vertiv	30%	$82,500	Increased weight (liquid cooling TAM explosion)
Eaton	20%	$55,000	Stable infrastructure exposure
Bloom	10%	$27,500	Larger asymmetric bet (2x conservative allocation)

Batch Buying Strategy (Balanced)

CEG - 3 Batches:

Immediate (50% = $55,000): Buy now (more aggressive than conservative 40%)
NRC Milestone (25% = $27,500): Buy on TMI operating license
Validation (25% = $27,500): Buy after 90-day successful operation

Vertiv - 3 Batches:

Immediate (50% = $41,250): Buy now
Quarterly Beat (30% = $24,750): Buy after 1 quarter of revenue/margin beat (faster than conservative)
New Tech Rollout (20% = $16,500): Buy when Vertiv announces next-gen liquid cooling (beyond GB200)

Eaton - 2 Batches:

Immediate (70% = $38,500): Buy now
Backlog Acceleration (30% = $16,500): Buy if datacenter backlog grows >25% YoY

Bloom - 3 Batches:

Immediate (40% = $11,000): Buy now (balanced investors take earlier risk)
AEP/Utility Order (30% = $8,250): Buy on large utility SOFC order
Post-Earnings (30% = $8,250): Buy after gross margin exceeds 25%

Risk Management Rules (Balanced)

Position Limits:

No single stock exceeds 22% of total portfolio (CEG at $110K / $500K)
AI power allocation capped at 60% maximum

Stop-Loss Triggers:

CEG: Sell 50% if NRC delays TMI restart beyond 2028 (de-risk, but don’t exit entirely)
Vertiv: Sell if quarterly revenue growth drops below 15% for 2 consecutive quarters
Eaton: Sell if datacenter segment revenue declines 2 quarters in a row
Bloom: Sell if gross margin drops below 18% (slightly higher tolerance than conservative)

Rebalancing:

Quarterly rebalancing: If any stock exceeds target by >40%, trim to target
Annual review: Reassess AI power allocation (if CEG/Vertiv double, consider trimming to 50%)

Aggressive Portfolio (70-80% AI Power Allocation)

Profile: Young professionals, high risk tolerance, long time horizon (10+ years)

Total Portfolio Example: $250,000

AI Power Allocation: $187,500 (75%)
Remaining: $62,500 in cash or bonds (safety net)

AI Power Breakdown:

Stock	Allocation	Dollar Amount	Rationale
CEG	35%	$65,625	Lower weight (more room for high-growth plays)
Vertiv	35%	$65,625	Equal weight with CEG (betting on liquid cooling TAM)
Eaton	15%	$28,125	Reduced weight (lower growth rate)
Bloom	15%	$28,125	Largest asymmetric bet (3x conservative allocation)

Batch Buying Strategy (Aggressive)

CEG - 2 Batches (Faster Deployment):

Immediate (60% = $39,375): Buy now (most aggressive entry)
NRC Milestone (40% = $26,250): Buy on TMI operating license (skip validation wait)

Vertiv - 2 Batches:

Immediate (70% = $45,938): Buy now (bet on GB200 rollout acceleration)
Quarterly Beat (30% = $19,687): Buy after 1 quarter beat

Eaton - Single Batch:

Immediate (100% = $28,125): Buy now (stable, lower priority)

Bloom - 2 Batches (Highest Conviction on Asymmetry):

Immediate (60% = $16,875): Buy now (aggressive bet on grid bottleneck thesis)
AEP/Utility Order (40% = $11,250): Buy on large utility order

Risk Management Rules (Aggressive)

Position Limits:

No single stock exceeds 26% of total portfolio (CEG/Vertiv at $65.6K / $250K)
AI power allocation capped at 80% maximum (always keep 20% cash/bonds)

Stop-Loss Triggers:

CEG: Hold through NRC delays (only sell on denial or nuclear incident)
Vertiv: Sell if quarterly revenue growth drops below 20% for 2 consecutive quarters
Eaton: Sell if datacenter segment revenue declines 3 quarters in a row
Bloom: Sell if gross margin drops below 20% (higher tolerance for volatility)

Rebalancing:

Semi-annual rebalancing: If any stock exceeds target by >50%, trim to target
Annual review: Consider increasing AI power allocation if thesis strengthens (e.g., 80% → 85%)

Leverage (Optional for Aggressive Investors):

If comfortable with options: Sell cash-secured puts on CEG/Vertiv to generate income
Example: Sell CEG $250 puts expiring 30-60 days, collect premium, willing to buy if assigned
Warning: Only for investors who understand options risk and can handle assignment

What to Avoid: Value Traps and False Narratives

1. Datacenter REITs (Digital Realty, Equinix, CyrusOne)

Why avoid:

No pricing power: Tenants (hyperscalers) negotiate 10-15 year leases with fixed rent
Margin compression: REITs pay for power infrastructure (transformers, cooling) but can’t pass through GB200’s 10x power density increase
Power capacity constraints: Existing datacenters built for 8-15 kW/rack cannot retrofit to 150 kW without gutting buildings
Better alternatives: CEG/Vertiv/Eaton sell equipment to REITs (suppliers capture value, not landlords)

Data point: Digital Realty trades at 15x FFO, same valuation as 2019, despite AI boom (market recognizes margin pressure).

2. Commodity Plays (Uranium miners, copper miners, natural gas producers)

Why avoid:

Price takers, not makers: Commodity prices are set by global supply/demand, not AI datacenter demand
Uranium: Spot price volatility (Cameco, Kazatomprom benefit, but CEG locks in $70-110/MWh PPAs regardless of uranium price)
Copper: AI datacenters use more copper, but so do EVs, grid buildout, housing (diluted thesis)
Natural gas: On-site generation (Bloom SOFC) uses natural gas, but residential/industrial demand dwarfs datacenter demand

Better alternative: CEG (locks in power pricing via PPAs), Bloom (passes through fuel costs to customers).

3. Renewable Energy Developers (NextEra, Orsted, Brookfield Renewable)

Why avoid:

Intermittency kills AI: Datacenters need 99.99% uptime, solar/wind cannot provide baseload without massive battery storage
Battery economics broken: $300-500/kWh battery cost makes 24/7 solar+storage 2-3x more expensive than nuclear
Hyperscalers prefer nuclear: Microsoft (TMI), Meta (Clinton), Google (NuScale SMR) all signing nuclear PPAs, not solar/wind

Data point: Google’s 2024 carbon emissions increased 13% despite renewable investments (AI datacenter growth outpaced clean energy).

4. Bitcoin Miner Conversions (Core Scientific, Riot Platforms)

Why avoid:

Retrofit costs equal new build: $18M/MW to retrofit bitcoin mining facility ≈ $15-20M/MW to build new datacenter
Wrong power profile: Bitcoin miners optimized for cheap, interruptible power (curtail during high prices), AI needs 24/7 baseload
Geographic mismatch: Bitcoin miners in Texas/Wyoming (cheap power, far from fiber), AI datacenters need low-latency metro locations
Execution risk: Core Scientific’s IBIT deal (2024) involves building NEW datacenters, not retrofitting old ones (proves conversion thesis is broken)

Better alternative: Bloom Energy (on-site generation avoids grid constraints without retrofit costs).

5. Utility Companies (Southern Company, Duke Energy, Dominion)

Why avoid:

Regulated returns cap upside: Utilities earn 9-11% ROE regulated by state commissions, cannot capture AI datacenter pricing power
Grid buildout costs passed through: PJM capacity auctions hit $329/MW-day (16x increase), but utilities recover costs via rate base, no excess profit
Long development timelines: 5-10 years to build new transmission, AI datacenters need power in 18-24 months (mismatch)

Exception: CEG is technically a utility but earns unregulated merchant power pricing via PPAs (not capped at 9-11% ROE).

Batch Buying Execution Guide

Step-by-Step Process

1. Open Brokerage Account:

Use low-cost broker (Interactive Brokers, Fidelity, Schwab)
Enable real-time quotes for CEG, VRT, ETN, BE
Set up price alerts (e.g., alert if CEG drops 5% in one day)

2. Determine Your Risk Profile:

Conservative: 30-40% AI power allocation
Balanced: 50-60% allocation
Aggressive: 70-80% allocation

3. Calculate Dollar Amounts:

Example (Balanced, $500K portfolio):
- CEG: $110,000 → Batch 1: $55,000, Batch 2: $27,500, Batch 3: $27,500
- Vertiv: $82,500 → Batch 1: $41,250, Batch 2: $24,750, Batch 3: $16,500
- Eaton: $55,000 → Batch 1: $38,500, Batch 2: $16,500
- Bloom: $27,500 → Batch 1: $11,000, Batch 2: $8,250, Batch 3: $8,250

4. Execute Batch 1 (Immediate Buys):

Place limit orders (not market orders) to avoid slippage
Example: If CEG trades at $270, place limit order at $272 (gives 0.7% buffer)
Avoid buying all on same day (spread over 1 week to reduce timing risk)

5. Set Calendar Reminders for Batch 2/3 Triggers:

CEG Batch 2: Google Calendar alert “Check NRC website for TMI operating license” (monthly check)
Vertiv Batch 2: Calendar alert “Check Vertiv Q1 2026 earnings” (quarterly)
Bloom Batch 2: Google News alert “AEP SOFC order” or “Bloom Energy utility”

6. Monitor Stop-Loss Triggers:

Set price alerts 10% below stop-loss levels
Example (Conservative): If CEG stop-loss is “NRC denial,” set alert if CEG drops 15% in one day (signals bad news)

7. Quarterly Rebalancing:

Export portfolio to Excel/Google Sheets
Calculate actual vs target allocation
If deviation >30% (Conservative) or >40% (Balanced) or >50% (Aggressive), rebalance

Risk Management Checklist

Diversification Rules

Geographic Diversification (Not Required):

All four companies operate in US (CEG: US nuclear fleet, Vertiv: global but US-heavy, Eaton: global, Bloom: US-only)
AI datacenter buildout is US-centric (Microsoft/Meta/Google all building in US)
Conclusion: Geographic diversification is not a concern for this thesis

Sector Diversification:

CEG: Utilities (nuclear power generation)
Vertiv: Industrials (thermal management equipment)
Eaton: Industrials (electrical components)
Bloom: Industrials (on-site power generation)
Concern: 75% industrials concentration (Vertiv/Eaton/Bloom)
Mitigation: This is acceptable because industrials benefit from AI capex cycle (different sub-sectors)

Single Stock Limits:

Conservative: No stock >17.5% of total portfolio
Balanced: No stock >22%
Aggressive: No stock >26%

Correlation Analysis

Portfolio Correlation Matrix (Estimated):

	CEG	Vertiv	Eaton	Bloom
CEG	1.0	0.6	0.5	0.5
Vertiv	0.6	1.0	0.7	0.6
Eaton	0.5	0.7	1.0	0.5
Bloom	0.5	0.6	0.5	1.0

Interpretation:

Moderate correlation (0.5-0.7) is expected (all benefit from AI datacenter buildout)
CEG has lowest correlation (nuclear PPA economics differ from equipment sales)
Bloom has lowest correlation (on-site generation is alternative to grid, not complement)

Implication: Diversification benefit exists but limited (all stocks rise/fall together in AI bull/bear market).

Stress Testing Scenarios

Scenario 1: AI Winter (ChatGPT hype fades, capex cuts)

CEG impact: Low (Microsoft/Meta PPAs already signed, 20-year commitments)
Vertiv impact: High (equipment orders dry up, backlog shrinks)
Eaton impact: Medium (diversified revenue cushions blow, but datacenter segment declines)
Bloom impact: Severe (unproven technology, customers cancel orders)
Portfolio action: Sell Bloom immediately, trim Vertiv to 15%, hold CEG/Eaton

Scenario 2: Nuclear Incident (Three Mile Island déjà vu or Fukushima-style disaster)

CEG impact: Severe (stock could drop 30-50%, NRC halts all restarts)
Vertiv impact: Low (liquid cooling demand unaffected)
Eaton impact: Low (grid infrastructure unaffected)
Bloom impact: Positive (on-site generation becomes preferred over nuclear)
Portfolio action: Sell CEG entirely, rotate to Bloom (asymmetric hedge)

Scenario 3: Grid Buildout Breakthrough (PJM approves fast-track interconnections)

CEG impact: Low (nuclear PPAs still economical vs grid power)
Vertiv impact: Low (liquid cooling still required for GB200)
Eaton impact: Positive (more grid connections = more switchgear/transformer sales)
Bloom impact: Severe (on-site generation thesis collapses if grid delays disappear)
Portfolio action: Sell Bloom, rotate to Eaton

Scenario 4: Breakthrough Cooling Technology (Air cooling solves 150 kW/rack somehow)

CEG impact: Low (power demand still increases, just less cooling load)
Vertiv impact: Severe (liquid cooling TAM collapses)
Eaton impact: Low (datacenters still need electrical infrastructure)
Bloom impact: Low (on-site generation demand unaffected)
Portfolio action: Sell Vertiv immediately, rotate to CEG/Eaton

Tax Optimization (US Investors)

Holding Period:

Long-term capital gains: Hold >1 year for 15-20% tax rate (vs 22-37% ordinary income)
Batch buying advantage: Batch 1 (immediate) reaches long-term gains first, Batch 2/3 lag by 6-12 months

Tax-Loss Harvesting:

If any stock drops >20% and thesis breaks, sell for tax loss
Example: Bloom drops from $28,125 to $15,000 (-47%), sell for $13,125 loss, offset capital gains elsewhere

Account Type Selection:

Roth IRA (best): Tax-free growth, ideal for aggressive portfolio (20-30% annual returns compounding tax-free)
Traditional IRA: Tax-deferred growth, suitable for balanced portfolio
Taxable account: Use for conservative portfolio (lower turnover, long-term capital gains treatment)

Final Investment Checklist

Before committing capital, verify the following:

Macro Environment

US Federal Reserve has paused rate hikes or started cutting (lower discount rate benefits growth stocks)
US 10-year Treasury yield <5% (if >5%, CEG’s nuclear PPAs look less attractive vs bonds)
AI capex growth confirmed in latest hyperscaler earnings (Microsoft/Meta/Google/Amazon)
No recession signals (inverted yield curve, rising unemployment) in next 12 months

Company-Specific Due Diligence

CEG:

Microsoft TMI PPA officially signed (check CEG investor relations)
Meta Clinton PPA officially signed
NRC restart approval for TMI granted (or timeline confirmed)
CEG management guidance confirms $70-110/MWh PPA economics
No nuclear incidents in past 6 months (check NRC event database)

Vertiv:

$8.5B backlog confirmed in latest quarterly earnings
NVIDIA GB200 rollout on track (check NVIDIA earnings for “liquid cooling” mentions)
Gross margin stable or improving (target: >35%)
Book-to-bill ratio >1.0 (indicates strong order growth)

Eaton:

Datacenter segment backlog growing >15% YoY
Book-to-bill ratio >1.0
Management confirms datacenter as top 3 growth driver
No margin compression in datacenter segment

Bloom:

Quarterly revenue growth >20% YoY
Gross margin trajectory toward 25% (check last 4 quarters)
At least 1 utility customer announced (AEP, Southern Company, or similar)
Electrolyzer segment revenue <30% of total (focus on power generation, not hydrogen hype)

Portfolio Construction

Total AI power allocation matches risk profile (30-40% conservative, 50-60% balanced, 70-80% aggressive)
No single stock exceeds maximum position limit (17.5%/22%/26% depending on profile)
Batch buying calendar reminders set for all trigger events
Stop-loss triggers documented and price alerts configured
Emergency cash reserve maintained (6 months expenses for conservative, 3 months for aggressive)

Risk Management

Understand maximum drawdown tolerance (Conservative: 20%, Balanced: 30%, Aggressive: 40%)
Annual portfolio review scheduled (rebalance, reassess thesis)
Stress test scenarios documented (AI winter, nuclear incident, grid breakthrough, cooling tech breakthrough)
Tax optimization plan in place (long-term capital gains, tax-loss harvesting)

Conclusion: Three-Year Roadmap

Year 1 (2025-2026): Foundation Building

Execute Batch 1 buys (CEG/Vertiv/Eaton immediate, Bloom if AEP order confirmed)
Monitor TMI restart progress (NRC milestones)
Watch Vertiv quarterly earnings for GB200 revenue ramp
Expect 10-20% volatility (AI hype cycles, macro uncertainty)

Year 2 (2026-2027): Validation Phase

Execute Batch 2/3 buys as triggers hit (CEG NRC approval, Vertiv earnings beats)
TMI restart goes live (CEG validates nuclear PPA thesis)
GB200 deployments at scale (Vertiv proves liquid cooling TAM)
First utility SOFC deployments (Bloom proves grid bypass thesis)
Portfolio gains: 25-40% (if thesis plays out)

Year 3 (2027-2028): Replication Phase

CEG replicates TMI deal with additional customers (Amazon, Oracle, etc.)
Vertiv expands beyond NVIDIA (AMD MI300, Intel Gaudi, custom chips)
Eaton backlog compounds as more datacenters break ground
Bloom achieves 10%+ market share (if grid bottlenecks persist)
Portfolio gains: 50-100% cumulative (if all four plays succeed)

Exit Criteria:

CEG: Sell when 50%+ of nuclear fleet is locked into PPAs (scarcity value diminishes)
Vertiv: Sell when gross margin compresses below 30% (competition intensifies)
Eaton: Sell when datacenter backlog growth slows below 10% YoY (demand peak)
Bloom: Sell when market share exceeds 30% (diminishing returns from grid bypass thesis)

Final Thought: This is a 3-5 year infrastructure build-out cycle, not a 6-month trade. AI power demand is non-negotiable (ChatGPT needs electricity, physics cannot be disrupted). The companies with defensible moats, pricing power, and execution track records will compound capital for patient investors.

The four plays—CEG (nuclear), Vertiv (cooling), Eaton (grid), Bloom (on-site)—are not “picks and shovels” clichés. They are critical path dependencies in the AI supply chain. Build your portfolio, follow the batch buying plan, and let infrastructure economics work in your favor.

AI Power Infrastructure Investment Series (5/5): Portfolio Construction & Risk Management

Categories

Tags

Executive Summary

Portfolio Construction Framework

Investment Universe: Four Validated Plays

Conservative Portfolio (30-40% AI Power Allocation)

Batch Buying Strategy (Conservative)

Risk Management Rules (Conservative)

Balanced Portfolio (50-60% AI Power Allocation)

Batch Buying Strategy (Balanced)

Risk Management Rules (Balanced)

Aggressive Portfolio (70-80% AI Power Allocation)

Batch Buying Strategy (Aggressive)

Risk Management Rules (Aggressive)

What to Avoid: Value Traps and False Narratives

1. Datacenter REITs (Digital Realty, Equinix, CyrusOne)

2. Commodity Plays (Uranium miners, copper miners, natural gas producers)

3. Renewable Energy Developers (NextEra, Orsted, Brookfield Renewable)

4. Bitcoin Miner Conversions (Core Scientific, Riot Platforms)

5. Utility Companies (Southern Company, Duke Energy, Dominion)

Batch Buying Execution Guide

Step-by-Step Process

Risk Management Checklist

Diversification Rules

Correlation Analysis

Stress Testing Scenarios

Tax Optimization (US Investors)

Final Investment Checklist

Macro Environment

Company-Specific Due Diligence

Portfolio Construction

Risk Management

Conclusion: Three-Year Roadmap

Further Reading