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
From X
marginofdanger on X
Pershing Square analyst ownership of a $1 billion stake in $PS is cited as evidence of SPAC overvaluation and Bill Ackman’s poor capital-allocation judgment.
Timyan Bank Alert on X
Citi $C Expands Customer Engagement and Commerce Media Capabilities With Addition of Kard - https://t.co/A0DL3zGdiS
Timyan Bank Alert on X
$FCNCA $SBNC HT @bankinvesting https://t.co/3nOgjdlsG8
marginofdanger on X
Pershing Square trades near 50 times estimated earnings, with $21 billion of fee-paying AUM against a $13 billion equity value and potential post-lockup selling pressure.
marginofdanger on X
Seems like $PSUS and $PS going to trade worse than I expected. Looks like PSUS could open at a 20% discount to NAV and PS to trade below the $10 bn valuation from the latest 3rd party pre-IPO raise. https://t.co/Ix6uqF61LJ https://t.co/F5UNDNNVMb
marginofdanger on X
Pershing Square USA will list at $50 per share alongside a direct listing of manager PS, whose free shares may offset an expected 5 to 10% closed-end-fund NAV discount.
Timyan Bank Alert on X
Big banks get second-quarter rocket fuel from SpaceX IPO $JPM $GS $BAC https://t.co/9HCoab65LR
Timyan Bank Alert on X
Regions Financial $RF buys investment bank in latest bolt-on https://t.co/Lb11zJT8vY
Investor Letters
All letters- Royce Investment Partners year-to-date period ended 6/30/26 +23.8%
- First Eagle Investments 2Q 2026 -16.6%
- Broyhill Asset Management first quarter -6.0%
- Greenhaven Road Capital first quarter +17.0%
- Greenhaven Road Capital first quarter
- Weitz Investment Management 3Q25
- Oakmark Funds 2Q 2026 +2.5%
- Southeastern Asset Management 2Q26 +3.9%
The $1.5 Trillion of Hidden Debt Fueling the AI Boom | Robin Wigglesworth of FT Alphaville
Hyperscalers’ off-balance-sheet lease and purchase obligations rose from roughly $1 trillion to $1.5 trillion, turning the AI buildout into…
Will Hubspot go the way of the Dodo?
HubSpot trades near its 2020 share price despite quadrupled revenue and $750 million in free cash flow, with Breeze AI upside weighed…
AI’s Achilles’ Heel: Why Everything Hinges on Anthropic & OpenAI | The Weekly Wrap
Steve Eisman argues the AI boom hinges on Anthropic and OpenAI’s importance to hyperscalers, while weighing software, CoreWeave and Cisco…
The AI Compute Squeeze
CoreWeave and Nebius cite AI compute shortages and higher-priced GPU renewals, but older-chip utilization and depreciation vary across…
Why I am going to utilize options more to manage my portfolio
Options strategies will manage portfolio risk after Meta, Alphabet and Amazon calls drove gains, while Lululemon LEAPs produced an 80% loss.
[scuttleslops] ZTS, APO, FISV, TTD, RELY
Zoetis’s U.S. companion-animal revenue fell 6% as dermatology competition drove rebates and discounts, pushing full-year net pricing to…
The Impact of Autonomous Vehicles on Copart, A Timeline-Based Assessment - ($CPRT)
Copart faces a near-term lift from pricier AV repairs and total losses, but shrinking accident volumes could eventually force its…
Permian Basin Q2 Update – Power, Water, Solid Waste, and Data Centers
GFL’s proposed acquisition of Secure follows 19% revenue growth at Secure and 14.8% EBITDA growth at GFL, with Permian produced-water and…
Private Credit's Clock is Ticking w/ Glenn Schorr & Ken Worthington | The Real Eisman Playbook Ep 72
Glenn Schorr and Ken Worthington discuss risks in private-credit software loans, agentic AI at retail brokers, crypto use cases and bank…
Alphabet Inc. ($GOOGL) - Deep Dive
Alphabet's Google Cloud swung from a $3.1 billion operating loss in 2021 to $13.9 billion profit in 2025 as Search revenue grew 13.2%.
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Older Stories
[V, MA] The more things change, the more they stay the same
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SpaceX Disappoints, AI's Free Cash Flow Shrinks, Meta Struggles | The Weekly Wrap
Steve Eisman BKNG 2026-08-07[scuttleslops] BKNG, ABNB, SHOP, LPX, TREX, XYZ
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Coupang: 2Q26 Business Recap
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The last Bristol Myers' blog post was wrong on the core thesis
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