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
BDC on X
@BoxLongs Wild truth is that if $SNAP chooses they can earn over $1/share in FCF next year. $5 stock.
Chris Camillo on X
Bought $TTWO after seeing the GTA VI leaked footage. Forget the graphics. Unpolished gameplay is showing a massive leap in world density, NPC behavior and systemic depth. The world feels alive. First real evidence GTA VI may actually be a generational leap. That’s the signal. https://t.co/r6HKMVSYgc
Ian Bezek on X
@taobanker $U up every day, $APP down every day, $RBLX demolished. Things as they should be.
Ian Bezek on X
@2suns2moons @bold_perception $CIB dividend up from $2.25/year in 2022 to more than $6/share now. Covers a lot of living expenses. If you relocate to another country, good to own some stuff there so you have an economic stake if its conditions improve...
Timyan Bank Alert on X
Deutsche Bank $DB freed from consent order in 2010s FX scandal https://t.co/BsHGBheaWK
AltayCap on X
@finphysnerd @taobanker A sentiment check on X searching $DECK, its universally positive except @CatNyanpital who is the only bearish comments on this name. Doesn't mean it can't work though
BDC on X
Contrarian view: $MRNA raises equity in next week. Bullish. No equity raise in the next 2-3 weeks? Very bearish.
Raging Capital Ventures on X
It is simple: $NVDA is using vendor financing to avert margin pressure and market-share loss. https://t.co/IlD9IHVhP8
Investor Letters
All letters- Protean Funds July 2026 EVGGF $15BNVO $168B
- Polaris Capital Management Second Quarter 2026 ENI $85BIX $40B
- First Eagle Investments second quarter 2026 032830 $41BBABA $270B
- Oakmark Funds 2Q 2026 META $1.9TORCL $439B
- Greenhaven Road Capital second quarter 2026 CLBT $2.9BHGTY $4.8B
- RGA Investment Advisors Q2 2026 ADBE $90BADYEN $31B
- Royce Investment Partners year-to-date period ended 6/30/26 ACA $7.2BADMA $2.3B
- Southeastern Asset Management 2Q26 ACI $5.7BAVTR $11B
NBIS 2026-08-20 Nebius: The Market Is Arguing About The Wrong Number
Nebius posted 454% revenue growth and a 41% EBITDA margin, while Meta’s $27 billion agreement supports its AI infrastructure backlog.
The Quality Growth Investor 3 clicks
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…
TEM 2026-08-20 Tempus AI Just Had Their Entire Strategy Validated By Moderna's Vaccine Advance
Tempus AI's diagnostics and data businesses grew Q2 2026 revenue 19.4% year over year, with FDA approvals, expanded tests and pricing aimed…
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…
Airbnb Model Update (2026)
Airbnb shares have risen about 50% since October 2025, prompting a revised 2026 model and return assumptions at the current price.
APP 2026-08-19 AppLovin: Here's How I See 3 Catalysts That Could Drive Valuation Re-Rating
AppLovin’s AXON 2.0 self-serve rollout, e-commerce onboarding and Connected TV expansion aim to revive growth after Q2 2026 revenue and…
KL Research 2 clicks
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…
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…
ADBE · long Adobe INC
Adobe's dual network effects and platform entrenchment make AI fears a buying opportunity for the software compounder.
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…
$UWMC lost $600m hedging a deal they'd already lost
UWMC booked a roughly $600 million Q2 hedging loss tied to TWO months after the deal collapsed, contributing to an expensive capital raise.
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…
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 $125-135 million operating-income…
Alphabet Inc. ($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%.
[V, MA] The more things change, the more they stay the same
Visa and Mastercard have absorbed digital wallets and BNPL into their networks, using global merchant acceptance to turn supposed…
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…
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Seeking Alpha 43 of 212
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Petri Dish Reports
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Conor Maguire | Value Situations
Convequity
David Orr
Deep Sail Capital
Devin LaSarre
DOMO Capital Management, LLC
Edwin Dorsey
Evan Tindell
Fajasy
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Fierce_beast
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Idea Brunch
JabroniCoin.USD
John_Hempton
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kab60
KEDM.com
Laughing Water Capital
Lee Roach
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Mike
Mikro Kap David
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Negligible Capital
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Sahil Khetpal
SG
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Timyan Bank Alert
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ToffCap
Trevor Scott
Voss Capital
Yaron Naymark
Investor letters we follow
- 1 Main Capital
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- Advisory Research
- Aegis Value Fund
- Aikya Investment Management
- Akre Capital Management, LLC
- Alluvial Capital Management
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- Cedar Creek Partners
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- Frank Capital Partners
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- Gabelli Funds
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- Lindsell Train Limited
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- Markel Group
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- Pershing Square Holdings
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- Vulcan Value Partners
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Sectors
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