What the AI Boom Looks Like From Inside Cisco with Sam Badri | The Real Eisman Playbook Ep 77
Cisco’s Sam Badri says roughly 90% of AI users remain at basic prompting, with few advancing to skills files or AI agents.
Monday, September 28, 2026
Back to today 
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Negligible Capital on X
So 25% of Anthropic’s revenue comes from 2 customers according to Reuters. One is probably $META based on recent reports (who probably pulls back the spending soon if Watermelon ends up being any good) Who’s the second?
John_Hempton on X
@stubmt I lost 0.02 percent on $AMC today. Position is tiny.
Calvin Blissett on X
@bull_moose26 @ConsensusGurus I'm saying to the GSEs, if there isn't differentiated pricing grid they don't need to use $FICO to sell $10m worth of loans to save say $300k due to pricing grids, its just parity now. No large incentive from that angle
Barbarian Capital on X
Meta launches enterprise AI business seeking to cash in on vast spending $META https://t.co/YsP5NnbgVz
Barbarian Capital on X
Northern Star Rejects $27 Billion Takeover Proposal From Gold Fields $GFI https://t.co/loTzZWh7IZ
Barbarian Capital on X
AAR to Pay $1.8 Billion for Stake in Aircraft-Maintenance Company $AIR https://t.co/y3DZLQRhaO
Barbarian Capital on X
Vail Resorts Loss Widens After a Year of Tough Weather $MTN https://t.co/8UH8LNPKDb
Barbarian Capital on X
Raytheon Gets $20.7 Billion Contract to Accelerate AMRAAM Missile Production $RTX https://t.co/qzm27WPV1F
Investor Letters
All letters- Asset Value Investors Ltd August 2026 MSLOF $16B
- Guinness Global Investors August AFL $56BCRM $193B
- Protean Funds August 2026 BVNKF $2.5B
- Janus Henderson Investors July 2026 KLAC $270BMCK $100B
- Pendelhaven Asset Management B.V. July 2026 ALM $3.8BJXN $8.8B
- Asset Value Investors Ltd July 2026 UNVGY $26B
- PenderFund Capital Management Ltd. July 2026 AUTO $4.6BGNRC $12B
- Kernow Asset Management July 2026 CKNHF $2.1BCMCX $2.5B
Uber: The Aggregator on Trial
Uber's $193 billion in gross bookings and $10 billion in free cash flow contrast with modest stock gains as autonomous vehicles and…
Veeva Systems (NYSE: VEEV) Stock Rating: Distribute After Q2 FY1/27 - Significant Gains To Bank
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Quick Value #332 - Gentherm (THRM)
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Inside AMD and Meta’s Equity-for-Compute Deal
AMD granted Meta warrants for nearly 10% of its shares tied to a 6 GW compute commitment, creating roughly $100 billion of potential…
RTX Corporation: Improving Margins Could Unlock More Value From Its Backlog
RTX’s $289 billion backlog and margin gains at Raytheon and Collins support its 2026 sales target of $95–96 billion, while Pratt & Whitney…
Vishal Jadaun 3 clicks
On’s Premium Playbook
On Holdings targets premium growth through 2029, using LightSpray soccer cleats and higher pricing, with ASPs rising from $145 to $170…
Oracle: Here's How Badly The AI Trade Could Go (Rating Downgrade)
Oracle faces rising credit and spending risks as OpenAI-linked backlog, Project Jupiter delays and higher component costs threaten FY27…
Tech Stock Pros 2 clicks
The Monday Morning Briefing: Micron and Nike Earnings on Deck
Micron and Nike earnings headline a weekly briefing featuring Exor’s NAV discount, Meta’s Muse agent and Bellway’s UK housing valuation.
Campbell's: Profit Continues To Fall, But The Stock Is Becoming Interesting
Campbell’s $500 million savings program and Rao’s growth could lift EBIT despite weak FY2027 guidance, while volume declines and inflation…
Investor Overview 
An open letter to Senator Elizabeth Warren
NAIC oversight missed Delaware Life’s $13.34 billion affiliated-bond exposure and permits capital treatment that props up Brighthouse’s…
COCO · short Vita Coco Company INC
Vita Coco, COCO, is pitched short after a 45% monthly rally, arguing investors are overextrapolating coconut water category growth.
The Airbnb Blueprint
Airbnb’s Q3 guidance implies 17% TTM GBV growth, while World Cup-driven North American strength may create a difficult Q2 FY27 comparison.
Cerebras Systems, Inc.
Cerebras Systems’ WSE-3 wafer-scale chip targets low-latency AI inference with faster decode than GPU racks, while higher per-token costs…
WD #354: Colombia Earthquake, Software, CIB/AVAL/NU Earnings
Colombia’s earthquake frames risks for Tecnoglass as Grupo Aval, Bancolombia and Nu report strong earnings, including Nu’s 67% EPS growth.
The $1.5 Trillion of Hidden Debt Fueling the AI Boom | Robin Wigglesworth of FT Alphaville
Hyperscalers’ off-balance-sheet lease and purchase obligations rose from roughly $1 trillion to $1.5 trillion, turning the AI buildout into…
Deep Dive: Uber ($UBER)
Uber generated $52 billion of FY25 revenue and $10 billion of free cash flow as investors weigh whether autonomous vehicles can erode its…
Will Hubspot go the way of the Dodo?
HubSpot trades near its 2020 share price despite quadrupled revenue and $750 million in free cash flow, with Breeze AI upside weighed…
Preview of the Week Ahead: W/C August 17, 2026
Week of August 17 tracks FOMC minutes, housing data and PMIs alongside technical levels for the S&P 500, Bitcoin, semiconductors, gold and…
Private Equity is coming for Software (NOTW#104)
Silver Lake’s reported talks to buy Workday briefly lifted software stocks, reviving hopes that private equity sees value in beaten-down…
If Everybody Knows It's a Bargain, Where's the Alpha?; Company Updates
Large active managers cluster in Visa, Mastercard, S&P Global, FICO, Alphabet, Meta and Berkshire, challenging alpha in widely owned…
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