Meta Buys Away its Distraction at Minimal Cost
Meta’s $18 billion teen-addiction settlement makes $5.3 billion contingent on YouTube and TikTok adopting matching restrictions, while exempting direct messages from usage limits.
Friday, August 28, 2026
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From X
Chris Camillo on X
@PostmodernRogue @fkon1u @DumbMoneyTV what exactly do you think is priced in? >37M launch-quarter units? >45M? >50M? what ARPU? “priced in” isn’t an argument without numbers. There is upside and downside. Been crushing $TTWO GTA trades since ’99. Always happy to compare notes.
SG on X
I know one company that won't be sad August is coming to an end $BURL https://t.co/uOtSFz7nCf
David Orr on X
@taobanker $LULU's quality drop was like a bit worse every year, kind of hard to notice. And then all of a sudden...
SG on X
$FLR share count reduction is impressive. Another year or two at this clip could really transform the capital structure. https://t.co/H0a7syQHHb
Chris Camillo on X
@SkillJoyed you have any idea how much money that would’ve cost me, having capital sitting in $TTWO since $100! in ‘22?
Chris Camillo on X
@SiltasInvest been trading GTA releases and $TTWO since ‘99
Chris Camillo on X
@LownTrevor if you believe that’s the consensus then $TTWO not for you
Investor Letters
All letters- Protean Funds July 2026 EVGGF $17BNVO $175B
- Hayden Capital Q2 2026 MELI $93BSE $63B
- Royce Investment Partners Year-to-Date Through 6/30/26 AAP $2.5BCBZ $3B
- Polaris Capital Management Second Quarter 2026 ENI $81BIX $43B
- First Eagle Investments second quarter 2026 032830 $42BBABA $288B
- Oakmark Funds 2Q 2026 ORCL $446B
- Greenhaven Road Capital second quarter CLBT $2.9BHGTY $4.7B
- RGA Investment Advisors Q2 2026 ADBE $99BADYEN $33B
BHVN 2026-08-27 Biohaven: Sale Of Opakalim Rights To SK Biopharmaceuticals Makes Sense On Many Levels
Biohaven’s $795 million global opakalim licensing deal with SK Biopharmaceuticals boosts cash, lowers R&D spending and extends its funding…
Edmund Ingham 1 click
Stripe’s “Singularity” and the Divergence from Adyen
Stripe’s net revenue rose 41% in 1H 2026 versus Adyen’s 21% FX-adjusted growth, fueled by AI-native startups and acquisitions including…
HMY 2026-08-24 Harmony Gold Mining: A Copper Pioneer By Capitalizing On The Gold Tailwind (Reaffirming Buy)
Harmony Gold targets copper at roughly 40% of future production, diversifying gold exposure while increasing sensitivity to commodity…
Prakhar Agarwal, CFA 4 clicks
Core Memory
Airbnb Experiences faces a supply bottleneck from manual approvals, while a farm host raised her price from $15 to $25 after stronger…
FUTU 2026-08-23 Futu Holdings: The China Discount Is Obsolete After Q2 Earnings Report
Futu Holdings' Q2 funded accounts rose 33.6%, client assets 43.6% and net income 41.6% as it shifts from mainland China toward Singapore,…
Emanuel Nemec 4 clicks
$ELAL: El Al is a wartime monopoly at 2x EBITDA. Is that a trap? | ASB Partners
El Al trades near 2x EBITDA after wartime near-monopoly profits, with $1.3 billion of net cash and owned aircraft weighed against…
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…
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…
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…
$NU: is Nubank Capital One in 1994 or Capital One in 2006? | Vanshap Capital
Nubank's 140 million customers, 20% efficiency ratio and 30% ROE frame whether its high-teens P/E reflects a scalable fintech or a maturing…
EQPT · long Equipmentshare.com INC
EquipmentShare.com, EQPT, is presented as a long idea and potential multibagger following its recent IPO, with a setup compared to Carvana.
Under The Hood, ResMed ($RMD)
ResMed’s 30 million connected sleep-apnea patients, recurring masks and software support a data-driven healthcare platform; 11.9% annual…
Why Nike ($NKE) Won't Make It Into the Bearhold Universe
Nike is excluded from Bearhold’s universe because cultural relevance and consumer taste drive demand, leaving its revenue model less…
Under the Hood, Copart ($CPRT)
Copart’s salvage-auction network pairs scarce storage land with global online bidding, supporting insurer returns and a durable moat…
Airbnb 4Q25: Business Update
Airbnb’s fourth-quarter revenue rose 12% to $2.8 billion and GBV 16%, while product improvements and AI spending target booking conversion…
Adobe Stock Breakdown (Five Minute Money)
Adobe trades at 14x free cash flow after a 60% decline despite growth, with AI, its business-model transition and creative-software…
Ferrari Exploratory Report
Ferrari sells about 13,000 vehicles annually, generating €7 billion of revenue and 28% operating margins; its shares trade at 32 times…
Adobe Inc (ADBE): slowly, then all at once
Adobe’s sub-20x forward GAAP P/E reflects AI disruption fears, with the investment case hinging on whether Digital Media’s creative…
My Biggest Position: A Monopoly Priced for Failure
A former value-investor darling, down 50%, pairs a monopoly with a recurring-revenue razor-and-blade business; debt paydown, margin…
Ryanair’s €256M Fine May Be Tip of The Iceberg
Ryanair’s €256 million Italian antitrust fine targets its OTA-blocking system, while internal documents raise questions about Michael…
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DOMO Capital Management, LLC
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- 1851 Capital
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- Akre Capital Management, LLC
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