TSOH Weekly Roundup (09/25/2026)
TSOH Weekly Roundup covers Ralph Lauren’s $1 billion distribution pullback, Peloton’s $2,195 foldable treadmill and $800 million refinancing, and Bob Chapek’s account of Disney succession.
Friday, September 25, 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- Protean Funds August 2026 BVNKF $2.5B
- Pendelhaven Asset Management B.V. July 2026 ALM $3.8BJXN $8.8B
- PenderFund Capital Management Ltd. July 2026 AUTO $4.6BKXS $3.4B
- Kernow Asset Management July 2026 CKNHF $2.1BCMCX $2.5B
- Lindsell Train Limited July RMVEY $3.3B
- Asset Value Investors Ltd July 2026 9301 $3.2B
- Broyhill Asset Management second quarter MIDD $4.7BSHC $5.2B
- Artisan Partners Q2 2026 CIGI $4.7BCLBT $2.8B
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The Undercovered Dozen 
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[CoStar] Homes are different
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I Tested Three Cannibals Against Dillard’s. I Bought Two. (CROX, CNX, GPI)
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Aggressive Portfolio Trades: Buy Vail Resorts, Buy ORR, Short GEO
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