Walmart’s Evolution
Walmart says Medicare Maximum Fair Price rules will cut FY27 US comps by 125 basis points, while pharmacy margins and prescription volumes remain resilient.
Friday, August 21, 2026
Back to today 
From X
Raging Capital Ventures on X
@satsfilip Fixed — at around $353 per $CHTR share / 23% of company.
Timyan Bank Alert on X
@Akston_Capital Putting aside what the shareholders, directors, activist ahareholders @HoldCoAM, his wife and anyone else, what does Chris Gorman, in his heart, want to accomplish at $KEY? Keep going as is? Acquire? Sell?
Psyop Capital on X
If it gets to mid to low 20s copart $Cprt seems like a good bet. Insurance mkt will harden and yes they have competition but duopolistic markets are still attractive and at 3-3.5x sales I think you’re good
marginofdanger on X
@BillAckman Literally every asset that’s managed by you including $HHH $PSHZF and now $PSUS has always traded at a discount. Why would this one be any different?
Psyop Capital on X
What’s the $BR mega bear case?
Mike on X
$HPE let's fucking go. https://t.co/OjNXeIX0yM
Mike on X
@Minnvestor $NVT you'd think would be up more today. Also w/ TPUs and Project Deschutes what w/ Anthropic S-1 and rev growth. Do you think just overlooked?
Investor Letters
All letters- Protean Funds July 2026 EVGGF $17B
- Polaris Capital Management Second Quarter 2026 ENI $81BIX $43B
- First Eagle Investments second quarter 2026 032830 $42BIMO $60B
- Oakmark Funds 2Q 2026 006400 $31BIKTSF $12B
- RGA Investment Advisors Q2 2026 ADBE $99BADYEN $33B
- Royce Investment Partners Year-to-Date Through 6/30/26 MKSI $16BONTO $12B
- Southeastern Asset Management 2Q26 AVTR $11BFDX $72B
- Horizon Kinetics 2nd Quarter 2026 TPL $24BCBOE $28B
CRWV 2026-08-19 CoreWeave: The Execution Story Is Flashing A Strong Signal (Rating Upgrade)
CoreWeave’s Q2 converted backlog into sales, expanded margins and lifted operating leverage as active contracts topped half of its $104.2…
Future Stack Investment 
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…
$NU: is Nubank Capital One in 1994 or Capital One in 2006? | Vanshap Capital
Nubank's 140 million customers, 20% efficiency ratio and 30% ROE frame whether its high-teens P/E reflects a scalable fintech or a maturing…
Will Hubspot go the way of the Dodo?
HubSpot trades near its 2020 share price despite quadrupled revenue and $750 million in free cash flow, with Breeze AI upside weighed…
[scuttleslops] ZTS, APO, FISV, TTD, RELY
Zoetis’s U.S. companion-animal revenue fell 6% as dermatology competition drove rebates and discounts, pushing full-year net pricing to…
The Impact of Autonomous Vehicles on Copart, A Timeline-Based Assessment - ($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…
Coupang: 2Q26 Business Recap
Coupang’s product-commerce revenue rose 8% in constant currency as data-leak churn lingered, while promotions and underused logistics…
[scuttleslops] ODFL, AMD, INTC, CDNS, URI, VRSK, KNSL, WSO
Old Dominion Freight Line grew Q2 revenue 10.4% and EPS 32.3% as pricing offset lower tonnage, while excess network capacity sets up…
DASH · long Doordash INC
DoorDash holds roughly 60% U.S. market share in on-demand restaurant logistics, underpinning a long thesis on its defensible delivery…
RDDT 2026-08-19 Reddit: Curb Your Enthusiasm About The Index Effect
Reddit joins the S&P 500 on August 18 after a short-term rally, while Q2 revenue growth came from ad pricing rather than user expansion and…
Dilantha De Silva 
Why DoorDash’s Autonomous Strategy Beats Uber’s Hodgepodge
DoorDash’s integrated autonomous-delivery strategy contrasts with Uber’s 2026 divestment of Serve Robotics, its former delivery-robot…
The AI Compute Squeeze
CoreWeave and Nebius cite AI compute shortages and higher-priced GPU renewals, but older-chip utilization and depreciation vary across…
Figma 2Q'26: Near-Term Re-acceleration vs. Long-Term Durability
Figma raised its 2026 revenue growth guide to 39%, but a roughly 1% sequential 3Q outlook and unchanged $125-135 million operating-income…
Under the Hood - Adobe Inc. ($ADBE)
Adobe generates 96% of revenue from subscriptions and converts over 40% into free cash flow, but generative AI tests whether Creative…
Under the Hood - Tractor Supply ($TSCO)
Tractor Supply’s 2,602-store rural retail network supported 30+ years of growth.
Boston Scientific Has to Keep Buying the Future
Boston Scientific built its interventional-medicine portfolio through acquisitions, but early-2000s growth became heavily dependent on the…
[scuttleslops] CDNS, SNPS, TREX, WISE, Class I Rails, China
Synopsys and Cadence retain EDA pricing power through entrenched design flows, foundry relationships and high switching costs; AI-driven…
U-Haul Bought at the Top
U-Haul’s pandemic-era fleet purchases at inflated prices now drive higher depreciation and disposal losses as truck and van prices…
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Clark Square Capital
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Conor Maguire | Value Situations
Convequity
David Orr
Deep Sail Capital
Devin LaSarre
DOMO Capital Management, LLC
Edwin Dorsey
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Farmer
Fierce_beast
Fred Liu
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Idea Brunch
JabroniCoin.USD
John_Hempton
junkbondinvestor
kab60
KEDM.com
Laughing Water Capital
Lee Roach
Little Owl Research
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marginofdanger
mavix
Mike
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Myles
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SG
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Timyan Bank Alert
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ToffCap
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Voss Capital
Yaron Naymark
Investor letters we follow
- 1851 Capital
- Aikya Investment Management
- Akre Capital Management, LLC
- Alluvial Capital Management
- Alpinum Investment Management AG
- Ariel Investments
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- Cedar Creek Partners
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- FPA Crescent Fund
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- Laughing Water Capital
- Lindsell Train Limited
- Macro Ops
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- Markel Group
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- Merion Road Capital
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- O'Keefe Stevens Advisory
- Oakmark Funds
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- Pershing Square Holdings
- Polaris Capital Management
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- Sequoia Fund
- Southeastern Asset Management
- Third Avenue Management
- Tweedy, Browne
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- Weitz Investment Management
- White Falcon Capital Management
Sectors
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