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Divergent Solutions

Divergent Solutions

One investor. One method, written down.

I invest my own capital in commodities, mining and crypto equity, by rules that are fixed. You can see how those rules work, and that they have not been tested yet. No advice, no service.

See the approach Email Pim

  • 6.6 years

    investing my own capital

    Since February 2020, own statement (see About). As at 5 October 2026.

  • 142,730

    indicator values processed

    Count from my own database, every day since the start. One indicator value is one technical measurement of one security on one day, for instance how volatile the price is: it describes price behaviour and decides nothing. As at 5 October 2026.

  • 07:45

    the morning briefing is ready

    Scheduled time in the recorded schedule, not a measured time. Schedule checked on 4 October 2026.

What this is

A private investor with a book of my own

  • Own book

    I invest only my own capital, for my own account and at my own risk. Nothing is traded on anyone else’s behalf.

  • A method written down

    The rules live in code and calculate the same way every morning. What they show is below, always with a date next to it.

  • No service, no offer

    No advice, no subscription, no signals to follow. Nothing here is for sale; you can read along.

The allocation

Where the money sits, and where the boundary lies

Inner ring the sector, outer ring the subsector: a second split within a sector, by what really drives the price. That ring exists because a sector label is too coarse: under one heading sit companies that move on very different things. Percentages of my own portfolio, no amounts.

btc-miner silver uranium crypto hyperscaler-hpc pure-btc-play junior-explorer producing-miner eth-staking tin-play

117

positions

10 sectors · 29 subsectors

25 Aug 2026

Key, clockwise from the top, in the order of the ring

  1. btc-miner28.12%
    1. hyperscaler-hpc18.01%
    2. pure-btc-play8.55%
    3. asic-hardware1.57%
  2. silver18.58%
    1. junior-explorer8.40%
    2. producing-miner8.35%
    3. development-stage1.83%
  3. uranium12.33%
    1. athabasca-explorer5.41%
    2. african-developer2.77%
    3. royalty1.30%
    4. fuel-tech1.05%
    5. explorer-other0.76%
    6. fysieke-trust0.74%
    7. producer0.30%
  4. crypto10.06%
    1. eth-staking6.83%
    2. btc-treasury1.63%
    3. sol-play1.61%
  5. mining-other8.27%
    1. tin-play5.99%
    2. nikkel-pge-cluster2.23%
    3. rare-earth0.05%
    4. lithium0.00%
  6. gold7.25%
    1. producing-miner3.86%
    2. development-stage1.67%
    3. discovery-play1.51%
    4. (niet geclassificeerd)0.21%
  7. copper6.65%
    1. junior-explorer4.30%
    2. mega-project1.16%
    3. producer0.71%
    4. development-stage0.49%
  8. pgm4.78%
    1. pgm-producer2.26%
    2. nikkel-pge-cluster1.77%
    3. pgm-developer0.75%
  9. energy2.78%
    1. crude-oil-producer2.12%
    2. gas-lng0.44%
    3. offshore-services0.22%
  10. other1.17%
    1. operational-outlier1.10%
    2. holding-shell0.07%

The ring counts the 29 subsectors that currently hold a position. The taxonomy on Sectors defines 30; a subsector without a position is listed there, not here.

There is a newer position sync, but it does not carry weights yet. The allocation above is the most recent state that could be weighted.

Personal portfolio. Not investment advice. As at 25 Aug 2026 Full text

The taxonomy with definitions →

Regime

How the market around each sector stands, as at 3 October 2026

A regime is the state of a sector, calculated with fixed formulas from price behaviour (trend, momentum, volatility, strength relative to the market) and the macro environment. It describes the environment I decide in. It does not say where a price is going, and it does not decide whether I buy or sell.

  • Precious metals: deteriorated regime, partial coverage, as at 3 October 2026
  • Industrial: mixed regime, partial coverage, as at 3 October 2026
  • Energy: mixed regime, partial coverage, as at 3 October 2026
  • BTC mining: mixed regime, partial coverage, as at 3 October 2026
  • Crypto: stable regime, full coverage, as at 3 October 2026
  • Macro context: stable regime, full coverage, as at 3 October 2026

What each state covers

State Sectors Coverage
Precious metals gold, silver, pgm partial coverage
Industrial copper, mining-other partial coverage
Energy uranium, energy partial coverage
BTC mining btc-miner partial coverage
Crypto crypto full coverage
Macro context Not a sector but the environment: the real policy rate, credit spreads, money supply growth, the dollar and gold relative to the money supply. From public macro data. full coverage

other falls in no group: holdings, empty shells and operating companies that do not fit a commodity thesis. No regime is calculated for it.

Coverage says whether all of the day's inputs were there. Full: every factor in the calculation had a value. Partial: one or more factors were missing, and the regime rests on the rest.

The sectors with their definitions are on Sectors →

Filled dot: stable. Ring: mixed. Cross: deteriorated. The measurements per sector are on Approach →

Not advice, not a trading signal.

The thesis

Why this corner of the market

In 2020 I began to understand that the market everyone follows is not the market where the biggest imbalance sits. The broad equity market is followed by millions of investors. The commodity market is forgotten by almost everyone. When I first understood how money creation works, how much is printed, how fast, and what that does to the purchasing power of savings, my view of investing changed fundamentally. Not the question “which share goes up” but “what holds value when the yardstick itself changes.” That pushed me towards commodities and precious metals: assets that derive their value not from a promise but from physical scarcity.

Every sector in this portfolio shares one property: demand grows faster than supply can follow, and that cannot be solved in two or three years. Electrification, data centres, AI infrastructure, defence. They all ask for the same thing: copper, uranium, silver, energy. At the same time, exploration and new production have been underinvested for decades. Building a uranium mine takes ten to fifteen years. A silver mine discovered now will not produce for a decade. The arithmetic is simple: that gap only closes with higher prices. Bitcoin mining fits the same frame: miners buy energy at scale and turn it into digital scarcity. The thesis is not “Bitcoin goes up.” The thesis is that companies which convert energy efficiently into a scarce good hold a unique position in the energy landscape.

This is not a certainty. It is a frame within which I make my decisions. It can be wrong. The system helps me see that sooner than my instinct would. How I apply this thesis, where I doubt it, and what the system shows me every morning: that I share on my Substack.

Three layers

Calculating, conviction and interpretation are three different things

  1. Compute core

    Fixed formulas on price data. Numbers come only from here, never from a language model.

  2. Conviction

    The method itself: which patterns and sector traits count, written into scripts.

  3. AI commentary

    Language models interpret what the two layers below show. They do not calculate and they do not decide.

How the three layers work together →

Latest analyses

All analyses →

Irregular, only when it matters. Follow on Substack →

The journal

Follow the method in the journal.

Newsletter

Divergent Journal

The story behind the system. The thesis, the lessons, how I think. For everyone.

Note: the Journal is written in Dutch.

  • Macro thesis and sector analysis
  • Honest look-backs
  • How I think, not what I buy

No spam. No selling on. You can unsubscribe at any time.