Price to Wealth Research

The AI Energy Trade

Who are the likely winners as AI reshapes energy markets?

Aug 9 • Price to Wealth

1

July 2026

Talen Energy (TLN)

Electricity is the bottleneck.

Jul 19 • Price to Wealth

3

January 2025

Favorite Books (2024)

Here is my favorite books list of 2024:

Jan 1, 2025 • Price to Wealth

1

Favorite Podcast Episodes (2024)

Here are some of the podcast episodes that I enjoyed the most in 2024:

Jan 1, 2025 • Price to Wealth

2

March 2024

The GEO Group: Beyond Private Prisons

Electronic Monitoring and Surveillance Services generated $213 million in operating income at a 50% operating margin in 2023.

Mar 24, 2024 • Price to Wealth

6

Republic Services Group

Despite having 56 fewer landfills, Republic only has ~3% less capacity than WM, and both companies generate roughly the same free cash flow.

Mar 10, 2024 • Price to Wealth

1

Waste Management: Working With Less

WM had fewer landfills in 2023 than it did in 2009. Revenue increased 73%, FCF increased 57%, and landfill capacity in tons increased 12%.

Mar 3, 2024 • Price to Wealth

6

February 2024

McDonald's: Real Estate

The company owns 57% of the land under McDonald's restaurants and 80% of all McDonald's restaurant buildings.

Feb 25, 2024 • Price to Wealth

5

January 2024

Some Perspective on the BTI Writedown

In December of 2023, British American Tobacco wrote down much of the value of its U.S.

Jan 7, 2024 • Price to Wealth

5

5

December 2023

Favorite Podcast Episodes (2023)

Here are some of the podcast episodes that I enjoyed the most in 2023:

Dec 31, 2023 • Price to Wealth

1

Favorite Books (2023)

Here is a list of my favorite books in 2023: History/Biography How to Hide an Empire: A History of the Greater United States (Daniel Immerwahr). What It…

Dec 31, 2023 • Price to Wealth

3

August 2023

Nicotine as a Service (NaaS)

PMI used R&D to become a better nicotine company. Healthcare M&A could lead to distraction.

Aug 6, 2023 • Price to Wealth

4

2