Our first stock pitch: BUY NexGen Energy (NXE) — plus six essays, from the most expensive primary ever to the rising price of gaming.  ‌ ‌ ‌
❧  ΕΚΔΟΣΙΣ Α´  ❧
AGORA
μελέτη τὸ πᾶν — ponder the whole
                                                           
 
The Acropolis of Athens, illustrated
 
Edition No. I A Modern Public Forum July 2026

Welcome to the first edition of the Agora newsletter. Each month we bring you our sharpest essays, one carefully argued stock pitch, and nothing else — no noise, no algorithm, just the work. Thank you for being here from the start.

✦  The Monthly Stock Pitch  ✦
NexGen Energy (NYSE: NXE)
BUY: the West's largest undeveloped uranium asset enters construction.
Current Price
US$9.25
Our Target
US$13
Horizon
12–18 mo

The business got stronger in 2026. The stock fell 30% anyway. In March, NexGen received the final licence for Rook I in Saskatchewan — ending twelve years of permitting risk on ore 20 to 30 times richer than the global average — while uranium contract prices sit at 18-year highs near US$93 a pound.

Cash costs near US$10 a pound, payback in roughly a year, and first production timed into the widest projected supply deficit on record. The market is still trading the spot chart. We think that gap is the entry point — the financing package due by early 2027 is the catalyst to watch.

Read the Full Pitch →   Slide Deck (PDF)
Not financial advice. The authors may hold positions in securities discussed. Do your own research.
  ❧  The Essays  ❦  
I · Politics
Inside The Most Expensive Primary in US History

A 14-year incumbent, unseated in his own party's primary — after more money poured into one House race than most Senate campaigns see in a cycle. Joven follows the spending sector by sector to show exactly whose dollars did the talking, and what the hidden machinery of American democracy looks like when it decides a seat is worth buying.

By Joven Heer  ·  Read the essay →
  Thomas Massie
 
II · Business
Why AI Will Not Replace Accountants

The Big Four are pouring billions into AI — and none of it is designed to remove the accountant. Sidhant looks inside platforms like KPMG Clara and Deloitte Omnia to make the contrarian case: the profession everyone says automation will kill is quietly becoming the one it can't function without.

By Sidhant Matthews  ·  Read the essay →
  KPMG offices
 
III · Business
Inside the SpaceX IPO: How Elon Musk's $2 Trillion Bet Is Dividing Wall Street

The largest IPO ever — $85.7 billion raised, more than double Saudi Aramco's record — rocketed 67% in four days, then crashed below its debut. Udhay walks through the whiplash, why analyst targets span an absurd $63 to $800, and the August dates that will start settling the argument.

By Udhay Kapila  ·  Read the essay →
  SpaceX rocket
 
IV · Politics
Ottawa's $1.45 Billion Condo Gambit

The federal government wants to buy 2,200 BC condos at a discount developers have little reason to offer. Kasra traces how BC housing starts collapsed nearly 80% from their peak, why a population whiplash left sellers and buyers in a standoff, and whether "let the prices drop" is a housing policy or just a good one-liner.

By Kasra Kazemialiakbar  ·  Read the essay →
  Condo construction in BC
 
V · Business
Why Shoppers Choose Walmart, Costco, and Home Depot: The $1.12 Trillion Gold Standard in Retail

Together these three out-earn the GDP of Switzerland. Costco caps its markups at 14% when retail routinely runs 50–100%, Walmart draws 280 million visits a week, and 92% of Costco members keep coming back. Joven argues the secret was never a growth hack — it's Sam Walton's old rule that the customer can fire everybody in the company.

By Joven Heer  ·  Read the essay →
  Walmart store opening
 
VI · Business
How Rising Prices Are Changing One of the World's Most Accessible Hobbies

$80 games, $1,999 graphics cards, and subscriptions that never stop stacking. Gurkaran runs the numbers on gaming's quiet affordability crisis, including the twist almost nobody mentions: adjusted for inflation, an $80 game today is still cheaper than a $60 game was in 2006. The squeeze is everything around it.

By Gurkaran Deol  ·  Read the essay →
  Game controllers
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