Late August 2026 Random Ramblings
Higher rates could compress equity multiples and raise AI data center lease costs, while UWMC and Cogent raise questions about CEO-driven capital allocation.
Sunday, August 30, 2026
Back to today 
From X
Charles Frischer on X
@DSacksCreative $NN The low band spectrum controlled by NN is quite valuable. $GSAT is a terrific comp. Sold for 11.6 billion. In many ways, our spectrum is extremely valuable and can carry more data and is more vital. Very desirable asset.
Tim Eriksen on X
For those interested, Solitron Devices $SODI Annual Meeting from last week was recorded and is available on Solitron's IR page. https://t.co/2Ijmz7MnjL
ToffCap on X
So $NKTR is now lower since the positive AA read out? https://t.co/HuWowXy7sE
Charles Frischer on X
$NN Market is saying today is not going to happen for NN. I agree. It is taking longer than hoped for but low band is becoming more valuable by the day. I expect Carr to reach a deal with all the parties and then a quick process to report and order. That deal might take a bit
ToffCap on X
1M, 6M and 5Y $MAPS chart. Sometimes a stock was just a 💩, is still a 💩 and will always remain a 💩 https://t.co/GOAKZYTZrT
mavix on X
I just published my Earnings Update about the Q1 2026 of Evolution $EVO $EVVTY. You can find it in the Portfolio section of the blog :) https://t.co/QXlBS93lji
ToffCap on X
What did I tell you guys 100 times?? Wait until we're finished doing the works! $RDCM https://t.co/15NpmF6Ytc https://t.co/2l52A8yhZ3
Investor Letters
All letters- Palm Harbour Capital July 2026 064850 $164M082920 $910M
- Protean Funds July 2026 DVYSR $90MSTOR-B $1.7B
- Alluvial Capital Management Second Quarter 2026 ZEG $5.2BDGXX $430M
- Royce Investment Partners Year-to-Date Through 6/30/26 AAP $2.6BBRSL $1.8B
- Greenhaven Road Capital second quarter ANAB $1.5BBUR $794M
- First Eagle Investments second quarter 2026 NE $7B
- RGA Investment Advisors Q2 2026 GTLB $8.2BMIPS $1B
- Southeastern Asset Management 2Q26 ACI $5.8BCNX $4.9B
FUFU 2026-08-27 BitFuFu: A $93 Million Liability No One Can Explain
BitFuFu’s $93.4 million unexplained long-term payable equals 57% of liabilities, overshadowing sharply higher self-mining and hosting…
Dorine Cherop 
$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…
PTLO 2026-08-20 Portillo's: Guidance Cut Confirms It's Cheap For A Reason
Portillo's guidance cut followed a 1.2% same-restaurant-sales decline and 1.9% margin compression, while its $343 million TRA liability…
KC Research 2 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…
Aloe Aloe Aloe what 'ave VERRA then?
Verra Mobility's new seven-year Avis agreement replaces a customer worth over 10% of revenue on materially worse economics, exposing…
SA 2026-08-20 Seabridge Gold: Fairly Valued Now But Big Upside
Seabridge Gold's KSM gold-copper project could re-rate on a joint venture, 2027 feasibility study and infrastructure progress, with gold…
Redfern Research 
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…
Jumia
Jumia’s January 2028 $7/$15 call spread risks $1.15 for up to $6.85 if cost cuts and marketplace growth deliver adjusted EBITDA and…
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…
Stock Trade Compilation Diez
E.W. Scripps, Team Internet, Monro, doValue and Inter & Co feature as special-situation trades involving mergers, asset sales, leverage and…
CNR · long Core Natural Resources INC
Core Natural Resources is a US metallurgical and thermal coal producer formed in January 2025 through the merger of CONSOL Energy and Arch…
RR 2026-08-29 Richtech Robotics: An Easy Pass Based On Lackluster RaaS Growth Quality
Richtech Robotics faces 9.5% revenue growth, 159% higher OPEX and a RaaS contract pipeline that fell from $6.6 million to $2.1 million.
Andres Veurink 1 click
$DNOW: the boring distributor that could double on 2029 numbers | Firebird Management
DNOW’s MRC Global merger targets $75 million of synergies, with a 2029 bull case of $30 to $32 per share driven by cash flow and rerating.
Are Department Stores Finally Shortable?
Macy’s and Kohl’s face renewed short cases as their recent reratings ignore fading store-refresh gains, credit-card earnings exposure and…
Entravision Q2 Notes
Entravision’s ATS revenue rose 230% to $182.8 million in Q2, but shares fell from above $14 to about $8 after management forecast…
$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.
40 Stock Pitches (3rd-9th August)
Navient trades near 40% of tangible book as Gator Financial Partners argues private student-loan growth and restructuring can reverse its…
$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…
These Power Stocks (Not Semis) Are The Real AI Beneficiaries, Say Investing Brother Duo Up 1,300%
Pernas Research names Capstone Energy and Stabilis Solutions as AI data-center power beneficiaries, alongside Tenable, Upwork, Wise and…
My Pitch Deck Slide Show from the MS Microcaps Summer Virtual Conference
Butler National Corporation is the subject of a stock pitch presented at the MS Microcaps Summer Virtual Conference.
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David Orr
Deep Sail Capital
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Voss Capital
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Investor letters we follow
- 1851 Capital
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- Akre Capital Management, LLC
- Alluvial Capital Management
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