Late August 2026 Random Ramblings
Higher rates could compress equity multiples and raise AI data center lease costs, while UWMC and Cogent raise questions about CEO-driven capital allocation.
Latest
From X
Laughing Water Capital on X
Terrestrial backup to GPS is essential. $NN https://t.co/sCRxCPCldm
Laughing Water Capital on X
In case you had any doubts on the case for terrestrial GPS. $NN https://t.co/js8mXHYTA6
Laughing Water Capital on X
@JonoJohnson8 @cfrischer1 Carr also references Cruz who first sponsored legislation calling for a terrestrial backup to GPS in 2017. As head of the Senate Commerce Committee, Cruz is effectively Carr’s boss. All tea leaves, but hard to think they’re not bullish $NN
Laughing Water Capital on X
@JonoJohnson8 @cfrischer1 Interesting to note that Carr 1st comments on increasing accuracy, and then calls GPS a “related issue”. He clearly makes a distinction between the 2 ideas. Maybe splitting hairs, but there is only 1 company that addresses both points: $NN.
Laughing Water Capital on X
@UnHedgedChatter @InvestSpecial @Wexboy_Value $AS, owner of Arc'teryx & 9 other brands trades at more than 3x sales. $CLAR, which would fit perfectly into AS's portfolio trades at less than 0.5x sales and is exploring strategic alts. 🤷♂️
Laughing Water Capital on X
@mil01425146 @yummyCenturyEgg @JBonfato @23Titan31 Happy to talk about $NN, Part 15, antenna science, radar science, tolling, etc., but I prefer to not be tagged on anything having to do with baked goods and personal proclivities. TYIA.
Laughing Water Capital on X
Interesting framing for $NN. $95 is pretty far above my upside case, but agree the $T / FirstNet arrangement is interesting context, despite some obvious differences. https://t.co/b3FsHVkivk
Laughing Water Capital on X
Verizon, T-Mobile and other carriers could move quickly for NextNav’s 900 MHz spectrum, following AT&T’s rapid purchase of 600 MHz licenses.
Investor Letters
All letters- Sequoia Fund year ended December 31, 2025 +22.1%
- Palm Harbour Capital 2022 Q4
- Palm Harbour Capital first quarter of 2023
- Royce Investment Partners Year-to-Date Through 6/30/26 +13.7%
- Maran Capital Management 2Q 2026 +5.4%
- Patient Capital Management 2Q25 +15.3%
- Patient Capital Management 3Q25 +14.1%
- Intrepid Capital 2Q 2026 +6.6%
MT 2026-08-27 ArcelorMittal: Regionalization Is Creating A Structurally Better Steel Company
Capital Connoisseur VRT 2026-08-27 Vertiv: AI's Physical Bottleneck Is Expanding Its Value Per Megawatt
LL Insights 
Nvidia’s Long-Term Margin Question
Nvidia faces questions over the durability of its long-term profit margins ahead of earnings.
[scuttleslops] AI Data Center Economics, ADI, INTU, IDXX
AWS AI campuses cost $40–$45 billion per gigawatt, with Trainium 3 expected to lift compute per megawatt and improve infrastructure returns.
Big Tech Off-Balance Sheet Concerns
Big Tech’s $3 trillion AI commitments are disclosed and largely long-dated, with nearly 60% of Amazon’s $650 billion commitments falling…
Stripe’s “Singularity” and the Divergence from Adyen
Stripe’s net revenue rose 41% in 1H 2026 versus Adyen’s 21% FX-adjusted growth, fueled by AI-native startups and acquisitions including…
$ELAL: El Al is a wartime monopoly at 2x EBITDA. Is that a trap? | ASB Partners
El Al trades near 2x EBITDA after wartime near-monopoly profits, with $1.3 billion of net cash and owned aircraft weighed against…
CCC Is in the Middle of the Wreckage
CCC, the dominant auto physical-damage claims estimator, connects 27 of the top 30 insurers with 31,000 repair shops as takeout rumors…
Aloe Aloe Aloe what 'ave VERRA then?
Verra Mobility's new seven-year Avis agreement replaces a customer worth over 10% of revenue on materially worse economics, exposing…
NCLH or her grandma Saga?
Norwegian Cruise Line’s $15 billion debt and 2026-27 capex delay deleveraging, despite fuel-efficient new ships and stronger projected 2028…
Stories are added via a curated list of writers we follow. Have a source we're missing?
Send your pickThe writers we follow
Every source on this site, hand-picked.
- Seeking Alpha
- Yet Another Value Blog
- Yet Another Value Podcast
- SG
- ⚽️📡
- Triple S Special Situations Investing
- Lee Roach
- Raging Capital Ventures
- JabroniCoin.USD
- Broken Moats
- BDC
- MBI Deep Dives
- scuttleblurb
- PAA Research
- Chris Camillo
- mavix
- Charles Frischer
- Maj Soueidan
- Wolf's Substack
- Farmer
- David Orr
- Connor Haley
- Ian Bezek
- Timyan Bank Alert
- AltayCap
- Nat Stewart
- The Oak Bloke
- Mike
- junkbondinvestor
- Little Owl Research
- The Monetary Matters Network
- Steve Eisman
- Clark Square Capital
- Tim Eriksen
- Bristlemoon Capital
- Bearhold Research
- 310 Value’s Newsletter
- ToffCap
- marginofdanger
- The Value Road
- Capital Employed
- Fierce_beast
- Speedwell Memos
- Psyop Capital
- Laughing Water Capital
- The Mikro Kap
- catechwilliams
- Treasure Hunting
- Porter Collins
- Clark Street Value
- Cluseau Research
- John Hempton's Newsletter
- Value Investors Club
- Undervalued Shares
- smallvalue.
- Maius Partners
- Multibagger Monitor
- Altay Capital - Mostly Value Investing
- Nat Stewart - Stock Picking Newsletter
- Citrini Research
- Rusholme Capital
- Hunterbrook No stories
- Odds on Open No stories
- Sahil Khetpal No stories
- Sunday's Idea Brunch No stories
Older Stories
Jumia
Triple S Special Situations Investing
Shitcos, Griftcos, and alignment versus enrichment at $IREN
Yet Another Value Blog
$NU: is Nubank Capital One in 1994 or Capital One in 2006? | Vanshap Capital
Yet Another Value Podcast
Stock Trade Compilation Diez
Triple S Special Situations Investing
The $1.5 Trillion of Hidden Debt Fueling the AI Boom | Robin Wigglesworth of FT Alphaville
The Monetary Matters NetworkTopics
Ordered by how often our editor reaches for them.
