Quick Value #330 - Deckers Outdoor (DECK)
Deckers Outdoor has fallen about 60% from its late-2024 peak and trades at 11x earnings as HOKA growth slows. Its net cash balance sheet and premium footwear brands support a value case.
Wednesday, September 9, 2026
Back to today 
From X
Laughing Water Capital on X
@cfrischer1 The use cases for satellite part 15 are extremely limited, & to suggest this is bad for $NN is silly. If there is interference or not is the only thing that matters whether on land or in space.
Ian Bezek on X
@zeroxkyle This (Indonesia $EIDO) is what an actual crisis looks like... not speculative froth getting washed out of a boom. https://t.co/ncNciDY8LS
Charles Frischer on X
$NN Claiming that this will hurt NN's chances for an NPRM are just silly, not based upon the facts and fear mongering by a short focuses analyst. In think it is clear that the FCC sees the 900 Mhz band as important spectrum and is setting fair rules for all participants.
Charles Frischer on X
$NN I would like to see the company come out in full support of this NPRM. I think they would send the message this is good for NN, the country and consumers. Patience is being required but will be rewarded at the end of the process.
Charles Frischer on X
$NN While there have been delays in approval, the value of the spectrum continues to rise everyday. NN owns a valuable asset and shareholders should likely be very happy at the end of the process.
Charles Frischer on X
$NN The FCC yesterday issued an NPRM to allow Part 15 devices to use the 900 Mhz band in space. Capstone claims this is bad news for NN. I think this is actually great news for NN. The FCC is looking to have an active 900 MHz band, including the NN spectrum.
Charles Frischer on X
$NN I suggest folks read the NPRM. It provides the same protections to Part 15 as they already have for terrestrial spectrum, no more, no less. NN is absolutely confident through the testing done to date that we don't create harmful interference. And we won't with satellite uses.
Charles Frischer on X
@sScCrRaAbBLLeE @snack8812 $NN Dell, I am still long and strong on NN. Clearly I wish we had made the blog this week, but I think we are still a priority of the FCC. Based upon what I know right now, I think we should be on the blog in the next month or two. I agree it has taken longer than we would like.
Investor Letters
All letters- Pendelhaven Asset Management B.V. Q3 2026 ALM $4.2BJXN $8.8B
- Akre Capital Management, LLC Q3 2026 AMT $82B
- Protean Funds August 2026 BVNKF $2.4B
- Janus Henderson Investors July 2026 NXT $13B
- Asset Value Investors Ltd July 2026 9301 $3.3B
- Lindsell Train Limited July RMVEY $3.5B
- Kernow Asset Management July 2026 CKNHF $2.1BCMCX $2.6B
- Forager Funds Management July 2026 4733 $4BSGE $12B
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