Bullpen.News From Edwin Dorsey
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Sunday, September 27, 2026

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💥A Bright Line to Bankruptcy💥

U.S. Treasury yields climbed above 5% as markets priced further Fed tightening, while Meta’s AI-agent announcement lifted risk appetite despite OpenAI security incidents.

META $1.8T
PETITION 2 clicks

From X

@Fierce__beast

Fierce_beast on X

Another issue with $ROL is that now that it is becoming easier to set up a business and website and market on the web, if i was a pest technician I'd think about how to go solo so that I don't need to give up all my margin to someone else just because they are setting up all the lead gen infrastructure. Not surprised to see pretty bad non-compete terms with $ROL imposes on their technicians. Already seems to be another advantage that is facing pressure.
@Fierce__beast 1 click

Fierce_beast on X

It was not looking good even in 2024 there was a lot of evidence for structural pressure on web traffic viewership and thus the value of led gen website providers, which primarily provided content and information. Never expected $ROL, a provider of pest control to become an AI loser But with Muse being able to negotiate prices and price transparency issues now becoming much more efficient a lot of business models could shrink pretty significantly that relied on lazy consumers. I remember in NYC i was once had to call pest control and negotiated with maybe 5 providers, the prices were absurd and it was such a waste of time. Deploying a muse agent to do this dirty work would have been so helpful
@AltayCapital 2 clicks

AltayCap on X

The only industries where obvious capital allocation lingo is useful is leasing / banking / insurance. It's much more nebulous in operating businesses that do real things. $AER ceo saying the cheapest commercial jets are on the NYSE under the ticker AER is easy to understand. As math is pencilling out cost of new orders vs buying back stock. $FOUR competes in the real world. Leasing/banking products are fungible. Much harder biz to forecast. Cap allocation is still important, but a lot harder.

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Reddit: DCF Valuation

Reddit’s DCF values shares at $225, driven by international ARPU expansion from $2.2 to $8.3 by 2035 and 38% operating margins.

RDDT $28B
Hated Moats 7 clicks

The Agents Revolt

Meta’s Muse reached 2.8 million downloads in two weeks, using AI agents to automate insurance shopping and erode customer inertia that…

META $1.8T
Net Interest 6 clicks

Ferrari Exploratory Report

Ferrari sells about 13,000 vehicles annually, generating €7 billion of revenue and 28% operating margins; its shares trade at 32 times…

RACE $68B
Speedwell Memos 1 click

Portfolio Update January 2026

DInvests sold Thermo Fisher, Dollar General, Dollar Tree and Edwards Lifesciences, then bought Pool Corp and Kraft Heinz while adding to…

KHC $27B
D Invests

Meta: 4Q25 Business Update

Meta’s 4Q25 revenue rose 24% as AI lifted ad performance, but 2026 costs are guided up about 41% and capex to $115–135 billion.

META $1.8T
Speedwell Memos 1 click

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