Bullpen.News From Edwin Dorsey
Get Daily Recap Feedback

Latest News

Market cap$10B–$100B
All Over $50MOver $300MOver $2BOver $10B
All Under $1BUnder $10BUnder $100BUnder $500B
SectorsAll
Filter by sector
Friday, October 16, 2026· 2841 stock ideas· 217 writers·
16,887 views· 7,825 clicks

Is The Market Turning The Page?

CoreWeave’s debt and equity price action is framed as a wake-up call for investors amid a broader market discussion.

CRWV $43B
WHAT ARE WE DOING? “Contrarians At The Gate” 38 clicks

From X

@convequity 1 click

Convequity on X

3D chips could create more room for specialist EDA startups. We are not convinced that more difficult chip design automatically translates into a large revenue windfall for $SNPS, $CDNS and Siemens. Fine-pitch stacking changes decisions that used to be made within one die. Put a circuit upstairs and its wires may get shorter, but its heat affects the circuit below. Placement, signal timing and power delivery have to be optimized together across the stack. That creates a reason for $AVGO and $NVDA to build custom tools around their architectures. Broadcom already describes a proprietary design flow built on industry-standard tools. Nvidia publishes its own research on assigning connections across tiers in 3D chips. Our inference is that the chip designers will keep some of the most differentiating optimization work in-house. A startup that solves a costly gap in cross-die planning or optimization could also win business without replacing an entire EDA suite. The incumbents still supply implementation, verification and manufacturing sign-off tools, and they are developing 3D capabilities themselves. Internal tooling is evidence that customers need more than the standard flow; it does not establish that incumbent spending falls. We see a more interesting startup opportunity where a tool can shorten repeated design iterations or improve the resulting chip enough to earn a separate budget. That is the part of the 3D transition we would investigate before assuming the largest EDA vendors capture most of the upside.
@kevin__mak

Kevin Mak on X

$ASTS So many questions about ASTS (please don't reply to unrelated threads to get my attention, just DM me). I have no position in the company. My comments from 3+ quarters ago is that I wanted to see "more metal in space". My concern from 5+ quarters ago was "how do they go from producing 1 satellite in 6 months, to 6 satellites per month, that's a really hard scaling problem". I think Starlink screwed up with their Swarm acquisition and trying to force that tech to work, it put a 18+ month delay on them. My hope was that ASTS would capitalize on that, and it generally appears that they've had scaling issues that prevented that from happening. That isn't really their fault, "space is hard" and "mass production is different from prototypes". I think money isn't a problem for them, they have so much cash (they were smart to take advantage of their high stock price). The problem is execution is hard even if you have lots of cash. Strategically they're in a good place, the MNO's definitely want/need them to work to compete w/ Starlink. But the MNO's are powerless, they're awful at execution (they're only good at increasing your monthly bill!). The BO failure was a really big problem. SpaceX (Starlink) had very little leverage on ASTS before. If they slowroll/deny F9 launches, they just push ASTS towards their competitor (BO). Two competitors (BO and ASTS) become stronger. But since BO was offline, it makes SpaceX the de facto monopolist to ASTS' launch. That gives them a ton of power in this situation and I imagine (but have no way to prove it), they would flex that competitive pressure on the company. That's not illegal anti-competitive behavior, that's just "pressure". It's a tricky set of problems that face the company and the stock price reflects that. I don't have a strong view in either direction of whether things get better or worse from here. But my initial hopes/thesis were steadily eroded by the execution issues (and valuation), hence my eventual exit from my long position. I don't think I'm saying anything thoughtful or what people don't already know/experience. But worth putting it out there because I've received _a lot_ of questions. Disclosure: No position in ASTS.

Investor Letters

All letters

Free Recaps of the best new stock ideas, delivered every morning.

Read past recaps

October 2026 Random Ramblings

October 2026 market commentary covers SOLS’s cancelled merger, a hypothetical Starbucks-Chipotle deal, Russell 2000 weakness and AI…

CMG $39B
Yet Another Value Podcast 84 clicks

Lennar, Part One: The Story

Lennar grew from a Miami builder into one of America’s two largest homebuilders, controlling land largely through options and land banks…

LEN $17B
Latticework by MOI Global 13 clicks

Lennar, Part Two: The Deep Dive

Lennar’s second audio program examines the homebuilder’s business for professional investors and housing analysts.

LEN $17B
Latticework by MOI Global 11 clicks

Insider activity September 2026

Asian insider buying rose 19% to US$2.4 billion across 930 September transactions, led by Grab CEO Anthony Tan’s US$30 million purchase…

GRAB $12B
Asian Century Stocks 6 clicks
SKYD · short

Paramount Skydance CORP

Paramount Skydance (PSKY) is a levered media conglomerate expected to merge with Warner Bros. Discovery in the third quarter.

SKYD $10B
Value Investors Club 4 clicks

An Open Letter to the TPL Board

Texas Pacific Land shareholders urge two board additions, data-center expertise, and capital spending beyond mineral royalties toward…

TPL $24B
310 Value’s Newsletter 4 clicks

Software Continued

Microsoft, SAP, Oracle, Adobe and Intuit generate 90.2% of listed IT software net income, with 32.8% EBIT margins.

ADBE $98BINTU $82B
Global Outperformers

Defying the Surveys

PNC CEO Bill Demchak says consumer spending, savings, activity and loan growth contradict record-low University of Michigan consumer…

PNC $88B
Net Interest

Have a source we’re missing? Send your pick

Recent recaps

Latest recap

Thursday, October 15 61 stock ideas
  • Is The Market Turning The Page? WHAT ARE WE DOING? “Contrarians At The Gate”
  • Breaking: The Offshore Monopoly Is Legal Now! Cannibal Stocks
Read the recap

All recaps

Publications we follow

Every publication on this site, hand-picked.

129 publications

Newsletters 107

YouTube 4

Blogs 17

Seeking Alpha 49 of 230

Nominate a publication

X accounts we follow

Every account on this site, hand-picked.

88 accounts
Nominate an account

Investor letters we follow

189 firms

Sectors

Ordered by how often our editor reaches for them.

Anything we’re missing?

Send us a pick