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Bullpen.News From Edwin Dorsey

Sunday, August 23, 2026

Core Memory

Airbnb Experiences faces a supply bottleneck from manual approvals, while a farm host raised her price from $15 to $25 after stronger bookings.

MBI Deep Dives Aug 23

Aug 23 FUTU $17B

Futu Holdings: The China Discount Is Obsolete After Q2 Earnings Report

Emanuel Nemec

Aug 22 LLY $1.2T

Eli Lilly: Shaking Off Competition From The Dethroned Novo Nordisk

JR Research

From X

@BlueDuckCap Aug 7

BDC on X

SanDisk's long-term agreements smooth revenue and soften cyclicality, but reduce the upside investors expected from a semiconductor-cycle recovery.

@AltayCapital Aug 5

AltayCap on X

Megachips Corp 6875.T looking interesting given the +30% move on $SITM after earnings+forecast. Megachips owns more than its marketcap worth of SITM. (no debt, net cash). They've done some real buybacks recently too! Core biz is meh. Megachips is about ~¥140bn mcap.

@BlueDuckCap Aug 5

BDC on X

ESPN remains a disaster for $DIS https://t.co/IHc4sav9Et

@orrdavid Aug 3

David Orr on X

Citadel’s semiconductor bet depends on whether SOXX’s drop is technical or reflects weakening AI-chip fundamentals, with forced selling and redemptions shaping the near-term exit.

@orrdavid Aug 1

David Orr on X

@FixedIncQuant @nickgiva1 $IBIT has a $46 billion AUM.

@BlueDuckCap Jul 30

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.

@BlueDuckCap Jul 30

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

@BlueDuckCap Jul 30

BDC on X

$AMZN op margin of 13.7% is its highest quarterly margin ever by a pretty wide margin. ROIC showing itself.

Investor Letters

The Non-linear Economics of Grocery Delivery Basket

Instacart’s larger grocery baskets create disproportionately better delivery economics than DoorDash’s, making half the basket size worth…

INST delisted

MBI Deep Dives Aug 22

NVDA 2026-08-22

Nvidia: It's All About SpaceX Now

Uttam Dey Aug 22

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…

MBI Deep Dives Aug 21

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…

Yet Another Value Blog Aug 18

$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…

Yet Another Value Podcast Aug 17

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…

The Monetary Matters Network Aug 16

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…

The Oak Bloke Aug 16

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…

Steve Eisman Aug 14

ZTS 2026-08-13

[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…

scuttleblurb Aug 13

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…

Bearhold Research Aug 13

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The full archive

Permian Basin Q2 Update – Power, Water, Solid Waste, and Data Centers

310 Value’s Newsletter Aug 12

Private Credit's Clock is Ticking w/ Glenn Schorr & Ken Worthington | The Real Eisman Playbook Ep 72

Steve Eisman Aug 10

Alphabet Inc. ($GOOGL) - Deep Dive

Bearhold Research Aug 10

[V, MA] The more things change, the more they stay the same

scuttleblurb Aug 10

SpaceX Disappoints, AI's Free Cash Flow Shrinks, Meta Struggles | The Weekly Wrap

Steve Eisman Aug 7

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