Toll roads in the sky
Asia's elevator boom favors maintenance and modernization providers, with Otis deriving nearly 90% of operating profit from after-sales services rather than new installations.
Tuesday, September 29, 2026
Back to today 
From X
catechwilliams on X
Answer: aggressive revenue booking, financing sales, selling products at/ below cost to boost revenue and hoping to “then try to build it back up over time” per CEO. Contrast $PLUS performance w competitor and industry leader $CDW.
catechwilliams on X
$PLUS Numbers don’t add up. 50% sales $CSCO product (sales -13% MRQ, guided -11%). MRQ $PLUS sales +13% (reported yesterday). Earnings call question: “OEM Cisco have talked about bottlenecks, weak orders. You’ve been unscathed…how are you outperforming the market significantly?”
catechwilliams on X
$EXLS Highly innovative founder-CEO rapidly taking share w AI-based services. High-teens topline growth w expanding margins, higher value-add mix to attractive end-markets. 17x P/E yet to reflect business transformation. 100% FCF to buybacks. Winning customers from $ACN $DXC $WIT
Little Owl Research on X
8/ There is a lot more to talk about (24% sequential increase in new home sales, ward village condo sales etc.) but I am hungry. So to wrap up, if you're selling $HHH on this quarterly report you do not understand what you own and I will be buying your shares at tomorrow's open.
Little Owl Research on X
1/ So first things first, $HHH missed on top and bottom line. Am I concerned? Absolutely not. Value was created for shareholders and I'll briefly explain why...
catechwilliams on X
$OII Niche leader in subsea robotics at 12x P/E. Offshore rig count accelerating (70% share), A&D growing DD, new autonomous tech a major growth driver in other end markets (lifts, etc). Investor day next week will showcase products and new LT targets. >50% NTM upside, IMO.
catechwilliams on X
@TheMuffinMan28 SRS is a PE rollout, bit of a hodgepodge of assets. Concentration in landscaping, pool and roofing. No exclusive relationships (GMS is for $AWI, regional duopoly across most categories). End customers are small homebuilders (more competitive, less scale benefit for distributors).
catechwilliams on X
$GMS Underfollowed building products distributor, HSD growth, favorable mix shift/ margin, tracking to beat estimates, trading at 10x EPS, 7x EBITDA. Peers at >50% higher multiples. $HD just acquired lower quality peer SRS for 17x EBITDA. GMS = $240 or +150% at that multiple.
Investor Letters
All letters- Quercus Fund 2026 (Jan-Aug) FCODF $4.7B
- Asset Value Investors Ltd August 2026 MSLOF $15B
- Guinness Global Investors August 2026 AFL $57BCRM $183B
- Protean Funds August 2026 BVNKF $2.5B
- PenderFund Capital Management Ltd. July 2026 KXS $3.4BMDA $4.7B
- Janus Henderson Investors July 2026 KLAC $261BMCK $109B
- Pendelhaven Asset Management B.V. July 2026 ALM $3.3BJXN $8.8B
- Asset Value Investors Ltd July 2026 UNVGY $27B
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Beam Therapeutics: Ignore The Anthropic Noise And Focus On Clinical Progress
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Monte Investments Market Brief Vol. CXXX
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Robinhood: The Market Is Pricing In A Lot, But Not Really Everything
Robinhood’s long-term value rests on retaining customer assets and becoming a primary financial platform beyond trading.
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Zscaler (NASDAQ: ZS) Stock Rating: Accumulate After Q4 FY7/26 Earnings
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Uber: The Aggregator on Trial
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Veeva Systems (NYSE: VEEV) Stock Rating: Distribute After Q2 FY1/27 - Significant Gains To Bank
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Oracle: Here's How Badly The AI Trade Could Go (Rating Downgrade)
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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
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CBOE · long Cboe Global Markets INC
Cboe Global Markets trades near $232, with a roughly $24.3 billion market cap, net cash and a 16-17x forward P/E.
An open letter to Senator Elizabeth Warren
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Sezzle: The Market Is Underestimating This High-Growth Fintech
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Newsletters 92
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Seeking Alpha 44 of 215
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Andres Veurink
Bay Area Ideas
Capital Connoisseur
Deep Value Investing
Dhierin Bechai
Equity Eagle
Eudaemon Research
Fernanda Galvez Jalil
Henrik Alex
High Alpha Professor- Investor Overview
IWA Research
Jaden Mealy
Khaveen Investments
LL Insights
Long Player
Marc Gerstein
Mike Zaccardi, CFA, CMT
Miletus Research
Myriam Alvarez
Petri Dish Reports
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Prakhar Agarwal, CFA
PV Research
Quantryon Capital- Robert J. Lake
Ron Ferrie
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Steven Fiorillo- The Alpha Analyst
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The Undercovered Dozen
Value Capital Research
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X accounts we follow
Every account on this site, hand-picked.
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A Capital
Adam D. Wyden
AltayCap
Bank Reg Blog
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BDC
Bill Ackman
Broken Moats
BuccoCapital Bloke
Calvin Blissett
catechwilliams
Charles Frischer
Chris Camillo
Clark Square Capital
Cluseau Investments
Colin King
Connor Haley
Conor Maguire | Value Situations
Convequity
David Orr
Deep Sail Capital
Devin LaSarre
DOMO Capital Management, LLC
Edwin Dorsey
Evan Tindell
Fajasy
Farmer
Fierce_beast
Fred Liu
Gavin Baker
Ian Bezek
Idea Brunch
JabroniCoin.USD
John_Hempton
junkbondinvestor
kab60
KEDM.com
Laughing Water Capital
Lee Roach
Little Owl Research
Maius
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marginofdanger
mavix
Mike
Mikro Kap David
Multiples Capital
Myles
Nat Stewart
Negligible Capital
Odd Diligence
Odd Lot Arbitrageur
PAA Research
Pernas Research
Porter Collins
Prepared Remarks
Psyop Capital
Raging Capital Ventures
Red Dog Capital
RiverRoadPartners
Rusholme Capital
Sahil Khetpal
SG
Sheel Mohnot
Tim Eriksen
Timyan Bank Alert
Todd Wenning
ToffCap
Trevor Scott
Undiscovered Compounders
Voss Capital
Yaron Naymark
Investor letters we follow
- 1 Main Capital
- 1851 Capital
- Advisory Research
- Aegis Value Fund
- Aikya Investment Management
- Akre Capital Management, LLC
- Alluvial Capital Management
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- Andrew Hill Investment Advisors
- Andvari Associates
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- Artisan Partners
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- Blue Tower Asset Management
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- Bretton Fund
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- Bristlemoon Capital
- Broadleaf Partners
- Broyhill Asset Management
- ByteTree
- Cambiar Investors
- Cantor Fitzgerald Asset Management
- Cedar Creek Partners
- Cedar Grove Capital Management
- Chautauqua Capital Management
- Chilton Capital Management
- Choice Equities
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- Confluence Investment Management
- CrossingBridge Advisors
- Crossroads Capital, LLC
- Curreen Capital
- Davenport Asset Management
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- Davis Advisors Large Cap Value
- Davis Opportunity Fund
- Davis Real Estate Fund
- Diranko Capital
- Distillate Capital
- Dodge & Cox Stock Fund
- DoubleLine
- East 72
- Easterly Asset Management
- EdgePoint Wealth Management
- Evolve Private Wealth
- FPA Crescent Fund
- Fairlight Capital
- Fairtree Asset Management
- Fenimore Asset Management
- Fiduciary Management
- Fiera Capital
- Financial Synergies Wealth Advisors
- First Eagle Investments
- Forager Funds Management
- Frank Capital Partners
- Fred Alger Management, LLC
- Gabelli Funds
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- GoodHaven Capital Management
- Grandeur Peak Global Advisors
- GreenWood Investors
- Greenhaven Road Capital
- GreensKeeper Asset Management
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- Grey Owl Capital Management
- Guinness Global Investors
- Halvio Capital
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- Hayden Capital
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- Kaydan Wealth Management
- Kennedy Capital Management
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- LVS Advisory
- Langdon Equity Partners
- Lansing Street Advisors
- Latitude Investment Management
- Laughing Water Capital
- Leonard Rickey Investment Advisors
- Lindsell Train Limited
- Long Cast Advisers
- Lyrical Asset Management
- Mar Vista Investment Partners
- Maran Capital Management
- Markel Group
- Marram Investment Management
- Massif Capital
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- Merion Road Capital
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- Nelnet
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- Patient Capital Management
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- Pendelhaven Asset Management B.V.
- PenderFund Capital Management Ltd.
- Pershing Square Holdings
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- Riverwater Partners
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- The London Company
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- Vision Capital Fund
- Vltava Fund
- Vulcan Value Partners
- Warden Capital
- Wealthspire Advisors
- Wedgewood Partners
- Weitz Investment Management
- White Brook Capital
- White Falcon Capital Management
Sectors
Ordered by how often our editor reaches for them.
