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
David Orr on X
@FixedIncQuant @nickgiva1 $IBIT has a $46 billion AUM.
BDC on X
Apple trades at 35 times earnings despite Services deceleration and slowing China revenue, with harder comparisons ahead and near-doubled market capitalization raising ownership risk.
BDC on X
A few mins to go, but this has been by far Andy Jassy's best call ever as CEO. Well done sir. $AMZN
BDC on X
$AMZN op margin of 13.7% is its highest quarterly margin ever by a pretty wide margin. ROIC showing itself.
BDC on X
In July the bubble moved over into $AAPL where it was hanging out during the semis blood bath. $AAPL with a so/so print is constructive since that there the bubble has been parked.
BDC on X
$AMZN incremental AWS margins are 57% and operating cash flow grew +40% against a much harder comp. These types of numbers show that ROIC is there on the capex.
BDC on X
I know I was poking some fun at $META last night but I think its a buy here in all seriousness. Not advice. But lots of ways to win in the end. Not advice, do own DD etc. I could be wrong.
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
Speedwell Memos
The last Bristol Myers' blog post was wrong on the core thesis
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