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Sunday, September 20, 2026

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Deep Dive: Brookfield Corporation

Brookfield Corporation, down 20% YTD, manages $1.27 trillion across asset management, insurance and operating businesses as rates, debt and private-credit concerns pressure its valuation.

BN $85BBAM $74B
Capitalist Letters 2 clicks

From X

@BrokenMoats 1 click

Broken Moats on X

$SNOW conference call is the bear case for application software companies. Their data infrastructure combined with coco and cowork on top increasingly makes SNOW a key player in data migrations, and data consolidation for their customers and a key hub to switch between models means SNOW has a seat at the table to be one of the most important and internal pieces of an AI stack....and as they become the permissions data holder with governance and api/mpc to internal and external partners, they can actually become the system of record across applications. This would allow you to use tools like cocoa inside to contextualize in human language what you want built, or even what data/answers you want and how you want that visualized.... Compare this to a Salesforce that is essentially becoming a database company silo to their specific domain by opening up their data to Claude to be the work engine. Eventually companies will increasingly want to stop interfacing with multiple applications to query and want to UI and query across a singular interface (originally thought to be an LLM like Claude, but with specific training and different inference costs / intelligence across models its more like the player presiding over the biggest pool of company data (snowflake, databricks) could become that central payer - less model lock, more flexibly, and central access point for models, data, queries and ui across functions. May not relegate a salesforce obsolete but significantly destroys their value when people access from Snow or even from an LLM like Claude were they lose the ui interface, and behavioral association and slight shared/learned network effects and become a database. Increases switching costs overtime and certainly destroys pricing (agent force consumption model is a step in the modern pricing setup, but start based models are dead, its not an if for most applications without highly defensible and proprietary data) $PEGA, $APPN, $PATH, $CRM, $PAYC are first pass through som of the more exposed names
@Mike10947310 1 click

Mike on X

During the Iran dip initially there was a lot of behind the scenes AI progress. And so when there was finally relief — in the form of the initial detente -> MOU — things totally ripped. I feel like with these insane $NVDA and $AVGO guides we are almost in this spot again. Hedge funds have delevered, momo has been historically crushed, Warsh has said a lot of hawkish things, and the next FOMC the market expects a hike. Obviously the big overhang is yields. But it feels to me like for all the discussion of guidance/rates/the yield curve… really the bond market just wants the war to end or at least be paused. I am not so sure that the US has no power to at least have things significantly deescalate when it wants (maybe into midterms). It’s like, we can “lose” a war, but Iran can still recognize that with time its leverage will decrease, its economy will be destroyed further… like it seems a bit naive just to think that because the war is going badly, Iran has no desire to see it wind down. This latest tit for tat for example hasn’t been that crazy. So IF you think that we get some sort of detente, which is really what I think yields need — are we not kind of a coiled spring here and running back a similar setup to when things started ripping?

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Brookfield of Dreams

Brookfield is recasting itself from an industrial owner into a $1.3 trillion asset manager and insurer, betting AI infrastructure can…

BN $85B
Net Interest

Groceries, Aggregators, and Agents

DoorDash's grocery push targets a shift from weekly stock-up trips to frequent online fill-in orders, though smaller baskets complicate…

DASH $84B
MBI Deep Dives 1 click

TSOH Weekly Roundup (09/18/2026)

TSOH Weekly Roundup covers organized retail crime, Home Depot’s centralized operating missteps under Bob Nardelli, and research updates on…

HD $305B
TSOH Investment Research 1 click

Deep Dive: Grab Holdings ($GRAB)

Grab generates 53% of revenue from delivery, 36% from mobility and 10% from financial services, using its Southeast Asian marketplace to…

GRAB $11B
Rebound Capital 1 click

Power Semiconductors: The Follow-Up

STMicroelectronics, Navitas and Wolfspeed offer contrasting power-semiconductor cases tied to NVIDIA’s 800V AI data-center architecture,…

STM $47B
SixSigmaCapital: Navigating the Financial Markets 1 click
CPT · long

Camden Property Trust

Camden Property Trust owns multifamily properties across the U.S. Southeast and Southwest.

CPT $12B
Value Investors Club 2 clicks

Copart 4Q26 Business Update

Copart's U.S. insurance volumes fell 7.5% in 4Q26, largely from one customer loss, while international insurance units rose 11.2% and…

CPRT $27B
Speedwell Memos 3 clicks

Why I Think Uber Is Too Cheap

Uber trades at 14.5 times trailing free cash flow, while robotaxi competition and a Delivery Hero acquisition test its growth and leverage…

UBER $145B
M&M Capital

A2Gold: Research Note

A2Gold's McIntosh drilling found 0.23 g/t gold over 65.5m, 370m southwest of the existing resource, and extended mineralization 86m…

KGC $34B
Atrium Research - Equity Research 2 clicks

Research Roundup Vol. LII

Dell’s AI-server demand and Microchip’s data-center components lead updates on Cirrus Logic and STMicroelectronics, alongside a weekly…

DELL $366BSTM $47B
Monte Independent Investment Research

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