The Bid Shading Threat to Amazon Advertising
Amazon’s $69 billion advertising business faces an FTC lawsuit over alleged bid shading, threatening a revenue stream that grew roughly sixfold since 2019.
Tuesday, September 1, 2026
From X
Broken Moats on X
Why is $GTLB up ah? Expense dollar growth far outstripped revenue dollar growth? and 117 NR at this valuation is not impressive, let alone the 50% increase in SBC yoy.....
Broken Moats on X
$QXO finally in my valuation zone, acquired shares this afternoon. Rates present a challenge, soft commodities surging and geopolitical could further stress inflation/yields but you usually do not get deal when everything is firing on all cylinders
SG on X
@Zerosumgame33 Manav calling $CLMT $DAR $ADM $BG "peers" is crazy to me. Other than all touching ag, they are very different businesses with very different drivers.
BDC on X
$GPRO acquired at $1.14. Was a $98. Founder lead with super voting rights. Woodman's hubris lost him billions. @evanspiegel don't make the same mistake. $snap
Chris Camillo on X
Take-Two Interactive, $TTWO, trades weeklies around GTA 6 news and debates the benchmark for the game’s success.
Prepared Remarks on X
$orcl https://t.co/82tycGZoPl
Raging Capital Ventures on X
Sol Bier and Factorial Funds backed SPCX, Anthropic, Perplexity and ElevenLabs early. A conference interview covers Sol Bier’s venture investing.
Chris Camillo on X
@reddy67874 @Jerry19880 @piques15 only stock i added to today was $AMZN. like the risk/reward probabilities here on $TTWO, but there’s more downside if player sentiment and engagement data start moving the wrong way.
Investor Letters
All letters- Protean Funds July 2026 DVYSR $103MEVGGF $17B
- Royce Investment Partners year-to-date period ended 6/30/26 AAP $2.6BAGO $3.3B
- Protean Funds June 2026 CINT $223MIDDWF $9.6B
- Alluvial Capital Management Second Quarter 2026 ZEG $5BDGXX $372M
- Hayden Capital Q2 2026 AMZN $2.8TGOOGL $4.1T
- Intrepid Capital 2Q26 GOOGL $4.1T
- Polaris Capital Management Second Quarter 2026 ENI $83BHDIH
- First Eagle Investments second quarter 2026 032830 $43BBABA $268B
Microsoft ($MSFT) - Deep Dive
Microsoft’s AI data-center buildout lifted annual CapEx from $5.5 billion in FY2014 to $115.9 billion in FY2026, resetting free-cash-flow…
BE 2026-08-29 Bloom Energy: 5 Links That Cannot Break
Valuation Rewind 6 clicks
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…
MU 2026-08-28 SK Hynix: Higher Revenue Than Micron, Cheaper Than Micron (Initiating Buy)
Prakhar Agarwal, CFA 6 clicks
Making sense of Sandisk’s long-term financial model
Sandisk’s FY28-FY30 model relies on long-term NAND agreements holding near-80% gross-margin floors despite pricing 26-28% below current…
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…
BHVN 2026-08-27 Biohaven: Sale Of Opakalim Rights To SK Biopharmaceuticals Makes Sense On Many Levels
Edmund Ingham 5 clicks
Domo (Arigato), for this potential multi-bagger options trade
Domo’s $400 million sale to Progress would leave a cash-rich public shell with $900 million of NOLs; January 2028 $5 calls cost 22 cents.
[scuttleslops] AI Data Center Economics, ADI, INTU, IDXX
AWS AI campuses cost $40–$45 billion per gigawatt, with Trainium 3 expected to lift compute per megawatt and improve infrastructure returns.
BREAKING: Modine's Anchor Multi-Billion-Dollar Customers Are Google and Amazon
Modine's undisclosed customer on a more than $4 billion agreement is Google, with potential data-center demand from AWS, Crusoe and others.
AEM · long Agnico Eagle Mines LTD
Dun & Bradstreet: Strategic Process Wrapping Up, Cheap Valuation
Dun & Bradstreet’s strategic process is wrapping up as the company trades at a cheap valuation.
Industrial and Commercial Bank of China
ICBC’s chairman describes embedding Chinese Communist Party leadership, anti-corruption campaigns and Xi Jinping Thought into governance at…
Thinking aloud about Google remedies
Justice Department remedies could bar Google from using location data it cannot share, weakening targeted ads and traffic routing despite…
Sarepta Risk and the FDA
Sarepta’s Exondys 51 approval despite a 12-patient trial frames FDA regulatory risk and a call to remove Commissioner Robert Califf.
Publications we follow
Every publication on this site, hand-picked.
- Seeking Alpha
- scuttleblurb
- MBI Deep Dives
- The Value Road
- Triple S Special Situations Investing
- Substack von Philipp
- The Oak Bloke
- Aurelion Research
- Yet Another Value Blog
- Nat Stewart - Stock Picking Newsletter
- Yet Another Value Podcast
- SixSigmaCapital: Navigating the Financial Markets
- Hated Moats
- Bearhold Research
- Open Insights
- Bristlemoon Capital
- Sylence Capital
- Guardian Research
- Capitalist Letters
- The Curious Compounder
- Hunterbrook
- Nugget Capital Partner's Substack
- Kairos Research
- Deep Value Insights
- Lewistown Capital
- Hidden Rock Capital's Newsletter
- The Monetary Matters Network
- Steve Eisman
- 310 Value’s Newsletter
- Capital Employed
- Speedwell Memos
- Hidden Gems Investing
- First Strike Research
- The Mikro Kap
- Treasure Hunting
- XIX Value
- Clark Street Value
- Value Investors Club
- Cluseau Research
- Rod’s Ruminations
- John Hempton's Newsletter
- Undervalued Shares
- smallvalue.
- Maius Partners
- Underlying Value
- Multibagger Monitor
- Altay Capital - Mostly Value Investing
- Citrini Research
- Exploring with Alluvial Capital
- Raging Bull Investments
- Odds on Open
- Sunday's Idea Brunch
X accounts we follow
Every account on this site, hand-picked.
- kab60
- Chris Camillo
- SG
- Bank Reg Blog
- Myles
- Nat Stewart
- Lee Roach
- Trevor Scott
- PAA Research
- BuccoCapital Bloke
- Ian Bezek
- BDC
- Negligible Capital
- Farmer
- Deep Sail Capital
- Prepared Remarks
- Evan Tindell
- Maj Soueidan
- John_Hempton
- ⚽️📡
- Broken Moats
- Mike
- Little Owl Research
- Timyan Bank Alert
- Tim Eriksen
- Clark Square Capital
- Cluseau Investments
- Raging Capital Ventures
- AltayCap
- mavix
- Multiples Capital
- JabroniCoin.USD
- marginofdanger
- David Orr
- Charles Frischer
- Mikro Kap David
- Connor Haley
- junkbondinvestor
- Fred Liu
- Bill Ackman
- ToffCap
- Fierce_beast
- Psyop Capital
- Laughing Water Capital
- catechwilliams
- Porter Collins
- Yaron Naymark
- Rusholme Capital
- Gavin Baker
- Sahil Khetpal
Sectors
Ordered by how often our editor reaches for them.
