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 
From X
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
Burford Capital to gain up to $1.4 bn from Apple patent defeat $BUR https://t.co/FijYGEP3fo
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
Investor Letters
All letters- Asset Value Investors Ltd August 2026 MSLOF $16B
- PenderFund Capital Management Ltd. August 2026 VHI $336M
- Forager Funds Management August 2026 BVSFF $1.4BIDPUF $554M
- 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 DR0 $438MALM $3.8B
- Asset Value Investors Ltd July 2026 079940 $399MUNVGY $26B
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
Veeva Systems moved VEEV to Distribute at $277 after a 41% gain in less than two months, despite Q2 revenue growth of 18% and 45% EBITDA…
Quick Value #332 - Gentherm (THRM)
Gentherm’s Oct. 1 Reverse Morris Trust with Modine adds commercial and off-highway operations, leaving THRM at 7.4x pro forma EBITDA with…
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…
HWKN · short Hawkins INC
Hawkins (HWKN) faces margin pressure as cost increases and municipal budget constraints weigh on its water-chemical distribution business.
Single Stock Spotlight #11: Pitney Bowes (PBI)
Pitney Bowes has returned 60% in 2026 after divestitures, cost cuts, debt repayment and buybacks; its strategic review includes selling…
[Market Memo] Hot Summer Topics
Applied Materials’ DRAM and CPO claims face scrutiny, while high-bandwidth flash needs SLC NAND and a solution for base-die heat.
$VEON: a busted EM telecom hiding a 4x? | Samit Umatiya, UIG Funds
VEON’s 84% Kyivstar stake and JazzCash underpin a sum-of-the-parts case for 4x upside, despite its sanctioned shareholder, capital…
Sleep Well Portfolio (June 2026) - Software continues to stabilise? Latest pick up 75%
Pro Medicus is up 75% since purchase, while Intuitive Surgical joins the portfolio and SaaS holdings recover 10% to 20%.
The $34 Stock Inside a $2.4 Trillion Rocket
Constellium supplies aluminum-lithium alloy 2195 for Falcon 9 tanks and aerospace programs, with qualification barriers supporting…
Pershing Square Challenge 2026 finalists on MSA Safety: a hidden quality compounder? $MSA
MSA Safety’s Pershing Square Challenge finalists pitch gas-detection subscriptions, mandated SCBA replacement cycles and a 2023 liability…
Regal Rexnord: Data Centers. Robotics. AI. Oh My!
Regal Rexnord transformed from an HVAC-heavy cyclical business through two major acquisitions, building industrial power-transmission and…
Why I Bought a Deep-in-the-Money META Call Instead of Shares
Meta investor bought a $350 December 2028 call for $26,901, preserving $28,123 versus 100 shares while betting AI and data-center spending…
Quick Value #320 - Somnigroup (SGI)
Somnigroup’s $2.5 billion all-stock Leggett & Platt acquisition adds vertical integration as the bedding leader targets mid-single-digit…
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Deep Sail Capital
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