Bullpen.News From Edwin Dorsey
Get Daily Recap Feedback

Friday, October 16, 2026

Back to today

From X

@BrokenMoats 6 clicks

Broken Moats on X

$BSP really have to question Gregg as the right to choice to lead Berkshire with this BSP investment. While it's meaningless in size to Berkshire, it's what it says about the investment process under Gregg and how they are underwriting managers. This does not strike me as a Buffet investment on any level. Something to watch as he continues to deploy capital....not sure how you get comfortable with an acquisition roll up of intangible assets, especially against the unknown of ai disruption. They should go back and study the intangible asset roll ups from the prior decade in the pharma space
@kevin__mak 4 clicks

Kevin Mak on X

I believe there's a high % chance $QURE gets its approval. Stuff like this from the FDA, in my eyes, further strengthens that belief. They want to generally make the review criteria more clear, more patient (advocacy) focused, and more flexible about what evidence is reasonably attainable. Not lenient for the sake of being reckless, but because there are situations that warrant different criteria. I think it would be quite incongruent to be vocally advocating for these new policies (which are suspiciously similar to the QURE debacle), while simultaneously crushing a high-profile drug approval like AMT-130. Incongruent doesn't mean it can't happen, just that it seems like the tail outcome. "The new framework is intended to enable patient input at earlier stages and at milestones throughout the development and review process. It also aims to provide greater clarity and consistency to drug developers on regulatory decision making. The agency said in a statement that it should take into account what evidence is reasonably attainable, given the nature of rare diseases." To be clear, FDA officials denied that the initiative was motivated by the earlier controversies. The connection to AMT-130, and the positive read-through, is my interpretation. "In an interview, senior officials at the agency denied that the initiative had anything to do with the earlier controversies" --- Disclosure: Creek Drive and its affiliated funds holds positions in QURE. Views expressed are current opinions for information only, subject to change and are not investment advice or a recommendation to buy or sell any security. Investing involves the risk of loss and past performance is not indicative of future performance. See the disclosures link in my bio for more important information.

Investor Letters

All letters

2026.42: Home At Last

Stratechery’s weekly bundle covers Apple HomeView and SpaceX’s cellular ambitions.

AAPL $5T
Stratechery by Ben Thompson – On the business, strategy, and impact of technology. 2 clicks

Is The Market Turning The Page?

CoreWeave’s debt and equity price action is framed as a wake-up call for investors amid a broader market discussion.

CRWV $34B
WHAT ARE WE DOING? “Contrarians At The Gate” 51 clicks

PesoRama: Research Flash

PesoRama will reach 54 JOi Dollar Plus stores by November after raising C$28.4 million, funding more than 50 additional Mexican store…

TBBB $6.8B
Atrium Research - Equity Research 5 clicks

Modine Deep Dive

Modine, soon Modexus Solutions, has a $4 billion hyperscaler cooling contract but must ramp factory output and restore margins as data…

MOD $9.2B
CV's Substack 16 clicks
TY · long

Tri-continental CORP

Tri-Continental Corp is presented as a long investment-grade fixed-income idea for portfolios with limited liquidity and diversification.

TY $1.8B
Value Investors Club 2 clicks

AppLovin Deep Dive

AppLovin rebuilt its ad model with AXON 2.0, lifting LTM revenue to about $7 billion and margins to 77% as Unity competition threatens…

APP $88B
Speedwell Research 24 clicks

Constellation: Stars Aligning?

Constellation Brands trades near $127 at roughly 11x next-twelve-month EV/EBIT, with recent business results offsetting concerns over…

STZ $22B
TSOH Investment Research 27 clicks

Publications we follow

Every publication on this site, hand-picked.

129 publications

Newsletters 107

YouTube 4

Blogs 17

Seeking Alpha 52 of 235

Nominate a publication

X accounts we follow

Every account on this site, hand-picked.

88 accounts
Nominate an account

Investor letters we follow

189 firms

Sectors

Ordered by how often our editor reaches for them.