Friday, September 25, 2026

The Enron-Era Tricks Are Back in AI: How These Companies Are Hiding Their Debt | The Weekly Wrap

Steve Eisman says AI companies are reviving Enron-era off-balance-sheet and circular financing, alongside concerns around Oracle and Blue Owl.

META $1.8TORCL $419B

Steve Eisman Sep 25 5 clicks

Sep 25 RDDT $28B

Reddit: DCF Valuation

Hated Moats 7 clicks

Sep 25 META $1.8T

The Agents Revolt

Net Interest 6 clicks

From X

@finphysnerd Sep 25 6 clicks

Myles on X

@SW_Resurgo I dunno, I see lots of very real cases of people doing shit like this. Remember the guy who went all in on $PDD and then had a royal crash out?

@leevalueroach Sep 25 5 clicks

Lee Roach on X

$CXW got a new President/CEO today. https://t.co/7WpulDuHkg

@ACapitalLP Sep 25 8 clicks

A Capital on X

@srg444 Me looking at $MGM trading at $32 when Osaka asset is worth 💰 https://t.co/jvVZZ37LP0

@KEDM_COM Sep 25 3 clicks

KEDM.com on X

Buckley Capital @buckleycapital exited Dave after a 100%+ rally from its average cost — on valuation, despite calling it a great business — and substantially cut Root. The proceeds went to Celsius $CELH and Light & Wonder $LNW.AU, where the Fund calls the street's disbelief in management's $2.0bn 2028 adjusted EBITDA target irrational, implying 150%+ upside.

@Fierce__beast Sep 25 6 clicks

Fierce_beast on X

@WaterworldCapi1 $fds decent short, very big and liquid, not showing deterioration yet, still an opportunity to short into earnings revisions (if they happen)

@ACapitalLP Sep 25 1 click

A Capital on X

What are the most interesting “rumored deal” or “strategic alternatives” trades today? I’ll start: $FUN - 9/22, Jana pushing for sale $ONT - 8/5, strategic review $VITL - 9/17, rumored take private $CGX.CN - 9/23, strategic review/advisors hired $NFG - 9/16, strategic review (Seneca E&P assets)

@RagingVentures Sep 25 3 clicks

Raging Capital Ventures on X

Caught a nice move in $META as they have executed nicely on Muse. However, I’m curious to see Muse’s retention stats. Muse’s agentic capabilities still seem like a bit of a novelty to me, and sometimes more of a hassle to use than a value-add. $META has also aggressively re-targeted me with ads on my feed based on my Muse activity. While impressive from a business monetization point of view, it makes me leery to connect my email and other sensitive accounts.

@ACapitalLP Sep 25 4 clicks

A Capital on X

@WaterworldCapi1 @madthunderdome $TLN - Josh Shapiro will privatize it.

Oklo: Shares Have Plunged, But I'm Still Bearish

Oklo shares have fallen 77% since October 2025 as commercialization slips beyond 2027, revenue estimates fall and dilution continues.

OKLO $6.7B

Ian Bezek Sep 25 5 clicks

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…

RL $21BPTON $2.2B

TSOH Investment Research Sep 25 5 clicks

Single Stock Spotlight #15: Rocket Companies (RKT)

Rocket Companies combines Redfin, Rocket Mortgage and Mr. Cooper into an end-to-end homeownership platform, adding mortgage servicing fees…

RKT $33B

Hidden Rock Capital's Newsletter Sep 25 6 clicks

Eckert & Ziegler: The Pick-and-Shovel Supplier of the Radiopharma Boom – Finally at a Fair Price

Eckert & Ziegler trades near €12, about 14 times expected earnings, as its isotope supply business expands with radiopharma demand despite…

NVS $271B

Substack von Philipp Sep 25 3 clicks

Buffett's Succession Plan Shows What Makes Berkshire Hathaway Unique

Berkshire Hathaway's succession elevates Greg Abel to CEO and Howard Buffett to chairman, reinforcing its acquisition, buyback and…

BRK.A $1.1T

Jim Sloan Sep 25 6 clicks

Ouster (NASDAQ: OUST) Stock Rating: Accumulate - Initiating Coverage

Ouster began coverage at Accumulate as lidar revenue rose 56% in Q2, while annual cash burn near $80 million has driven an 86% share-count…

OUST $2.9B

Cestrian Capital Research Sep 25 7 clicks

Research & Analysis: The Aaon Group (NASDAQ: AAON)

AAON's BASX data-center cooling business targets $1 million to $1.5 million per megawatt, with new capacity and backlog conversion expected…

AAON $6.8B

Monte Independent Investment Research Sep 25 8 clicks

Ciena & Fabrinet: The Road Ahead for Optics

Ciena and Fabrinet benefit as AI clusters require high-speed optics within and between data centers, through networking systems and…

FN $16BCIEN $55B

Aurelion Research Sep 24 4 clicks

Oracle: Hyperscaler or Neocloud? A Look into Q1 FY2027

Oracle’s Q1 FY2027 AI infrastructure push relies on leasing, debt, customer prepayments and OpenAI’s Stargate project, resembling a…

ORCL $419B

Kakashii's Materials Sep 24 3 clicks

Honeywell: Post-Spin Growth Story Is Just Getting Started

Honeywell is refocusing on automation after its Aerospace and Advanced Materials spinoffs, with a 1.1x book-to-bill ratio, raised guidance…

HON $68B

Gen Alpha Sep 24 1 click

BCO · long

Brinks CO

Brink’s $6.6 billion cash-and-stock acquisition of NCR Atleos underpins the long case, citing strategic and financial rationale.

BCO $4.2B

Value Investors Club May 8 1 click

$SN: The Sneaky Compounder With 40% Upside (No Paywall)

SharkNinja, spun off from Hong Kong-listed JS Global Lifestyle and listed at $42.31 in July 2023, is pitched as a 40% upside compounder.

SN $25B

Guardian Research Apr 29

Under The Hood: Ulta Beauty, Inc. ($ULTA)

Ulta Beauty’s 46 million-member loyalty model drove strong historical cash flow, but earnings have stalled since fiscal 2022 as SG&A rose;…

ULTA $23B

Bearhold Research Apr 28

Apple Earnings Mentions Contracts: Our Analysis

Apple’s Kalshi earnings-call contracts price mentions of “foldable” and “glasses,” while its 24-year transcript record indicates management…

AAPL $4.8T

First Strike Research Apr 28

Booking Holdings: A 15% EPS Compounder at 17x Earnings

Booking Holdings generated $9.1 billion in 2025 free cash flow and targets 15% annual EPS growth, trading at 16.8x forward 2026 earnings.

BKNG $120B

Modern Value Investing Apr 26

Under The Hood, HCA Healthcare - $HCA

HCA Healthcare generated $75.6 billion of 2025 revenue and an 18.9% ROIC, pairing hospital-market scale with expanding margins and lower…

HCA $94B

Bearhold Research Apr 25 3 clicks

Apple Turnover

Apple Pay reaches 785 million users and has become Apple’s springboard into cards, transfers and savings, giving it a fintech advantage…

AAPL $4.8T

Net Interest Apr 24

Microsoft: The Investment Case Summary

Microsoft’s investment case centers on enterprise software, cloud services and AI offerings across productivity, ERP, CRM and databases.

MSFT $3.8T

Global Outperformers Apr 24

An Open Letter to the TPL Board

Texas Pacific Land shareholders urge two board additions, data-center expertise, and capital spending beyond mineral royalties toward…

TPL $23B

310 Value’s Newsletter Apr 22 3 clicks

Software Continued

Microsoft, SAP, Oracle, Adobe and Intuit generate 90.2% of listed IT software net income, though AI has compressed Adobe and Intuit…

MSFT $3.8TADBE $92B

Global Outperformers Apr 21

Friday, September 25, 2026

Myles on X

Lee Roach on X

A Capital on X

KEDM.com on X

Fierce_beast on X

A Capital on X

Raging Capital Ventures on X

A Capital on X

Investor Letters

Publications we follow

Newsletters 93

YouTube 4

Blogs 12

Seeking Alpha 42 of 206

X accounts we follow

Investor letters we follow

Sectors