Shitcos, Griftcos, and alignment versus enrichment at $IREN
IREN awarded each co-CEO roughly 9 million RSUs, about 2.5% of shares and $400 million, in exchange for no further equity grants until fiscal 2031.
Tuesday, August 18, 2026
Back to today 
From X
AltayCap on X
New writeup on the 'Stack. MegaChips (TYO 6875). After-tax stake in $SITM in the U.S. + NCAV is ¥19,842 vs ¥11,250 stock price. Operating biz is capital light and management aims for ¥10bn in OP in FY30. There's other financial assets too. mcap: ¥158.3 billion ($1 bn USD) https://t.co/gPhHG8P5nY
Ian Bezek on X
@boujee_banker @Nobilis_Capital @HettyGreen2020 $FMX reports Bara data, it's growing double digits as well, albeit slower than $TBBB. https://t.co/hlJy1GhSnZ
Ian Bezek on X
@sadvalueinvestr Anthropic buying Pacifico Airports $PAC at 25x EBITDA would be accretive to their earnings, and I'd be a willing seller at that price. Let's make a deal!
Ian Bezek on X
@WaterworldCapi1 $jets Bad industry, oil might go up again, consumer spending may roll over, and the new "capacity discipline" is more lucky accident than strategic. Somebody, probably $aal will start dumping capacity on routes again and margins back to zero
Ian Bezek on X
@lasse108 @ReturnsJourney $intr
JabroniCoin.USD on X
$CENX is a non-AI bottleneck https://t.co/L0PvNNH4HK
Chris Camillo on X
@eager28 @CAndreisen @quazijohir Correct. They’re tied to the same lockup as other pre-IPO investors. I’m not overthinking $SKM it’s simply my public equity proxy for Anthropic.
BDC on X
Bingo. Executive order just signed to go into effect soon...domestic suppliers WIN. $MOB being FCC exempt, Blue UAS, and supplier to domestic OEMs like $TDY means they also win. And great quarter too...business is starting to inflect. https://t.co/Wj5fOsJxvh
Investor Letters
All letters- Protean Funds July 2026 EVGGF $17BNVO $175B
- Royce Investment Partners Year-to-Date Through 6/30/26 ACA $7.2BADMA $2.1B
- First Eagle Investments second quarter 2026 AEM $102BBTG $10B
- Oakmark Funds 2Q 2026 CRBG $15B
- Southeastern Asset Management 2Q26 ACI $5.9BAVTR $11B
- Horizon Kinetics 2nd Quarter 2026 TPL $24BCBOE $28B
- Baron Funds JUNE 30, 2026 MSCI $40B
- Ariel Investments Quarter Ended June 30, 2026 CG $15BHAE $4.9B
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$DNOW: the boring distributor that could double on 2029 numbers | Firebird Management
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The AI Compute Squeeze
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Are Department Stores Finally Shortable?
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[scuttleslops] ZTS, APO, FISV, TTD, RELY
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The Impact of Autonomous Vehicles on Copart, A Timeline-Based Assessment - ($CPRT)
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Permian Basin Q2 Update – Power, Water, Solid Waste, and Data Centers
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$UWMC lost $600m hedging a deal they'd already lost
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Private Credit's Clock is Ticking w/ Glenn Schorr & Ken Worthington | The Real Eisman Playbook Ep 72
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Figma 2Q'26: Near-Term Re-acceleration vs. Long-Term Durability
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IQV · long Iqvia Holdings INC
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[V, MA] The more things change, the more they stay the same
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Shopify 2Q'26: Sustained Miraculous Growth
Shopify sustained 30% FX-neutral GMV growth in 2Q’26, reaching roughly 44% of Amazon’s retail GMV as international, POS and B2B volumes…
SpaceX Disappoints, AI's Free Cash Flow Shrinks, Meta Struggles | The Weekly Wrap
Steve Eisman reviews SpaceX earnings, AI capital spending’s drag on free cash flow, Meta’s struggles, and the collapse of Situational…
$HIMS: Paul Cerro wouldn't trust the CEO to walk his dog. He's still long. Why? | Cedar Grove
Hims & Hers investor Paul Cerro is long again on lab and patient data driving retention and LTV, despite management concerns, GLP-1…
Airbnb 2Q'26: Widening the Gap with Booking
Airbnb added 14 million booked nights and seats, up 10%, and guided low-double-digit third-quarter growth as North America and EMEA…
[scuttleslops] BKNG, ABNB, SHOP, LPX, TREX, XYZ
Booking Holdings beat Q2 guidance as room nights grew 5%; connected trips, merchant payments and Genius loyalty strengthened direct…
DoorDash 2Q'26: Growth Beyond the Restaurant
DoorDash’s 2Q 2026 orders rose 27% and marketplace GOV grew 36%, with DashPass driving a slight acceleration in U.S. restaurant demand.
Coupang: 2Q26 Business Recap
Coupang’s product-commerce revenue rose 8% in constant currency as data-leak churn lingered, while promotions and underused logistics…
Perimeter Solutions: 2Q26 Business Recap
Perimeter Solutions’ 2Q26 revenue rose 31%, while operating income fell 11% as USDA pricing and DLA delivery timing hurt Fire Safety; it…
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Conor Maguire | Value Situations
Convequity
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Deep Sail Capital
Devin LaSarre
DOMO Capital Management, LLC
Edwin Dorsey
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Farmer
Fierce_beast
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Ian Bezek
Idea Brunch
JabroniCoin.USD
John_Hempton
junkbondinvestor
kab60
KEDM.com
Laughing Water Capital
Lee Roach
Little Owl Research
Maius
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marginofdanger
mavix
Mike
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Myles
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Rusholme Capital
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SG
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Timyan Bank Alert
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ToffCap
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Voss Capital
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Investor letters we follow
- 1851 Capital
- Aikya Investment Management
- Akre Capital Management, LLC
- Alluvial Capital Management
- Alpinum Investment Management AG
- Ariel Investments
- Artisan Partners
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- Pershing Square Holdings
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- Sequoia Fund
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