Sunday, October 18, 2026

What Lies Beneath: The Developer Building a Data Center on a Former Army Dump Laced With Munitions and Carcinogens

Digital Realty paid $120 million for Atlanta-area parcels including a former Army dump with buried carcinogens and military ordnance.

DLR $60B

Hunterbrook Oct 18 23 clicks

Oct 17 SMTC $12B

Semtech Analyst Day Review

CV's Substack 14 clicks

Oct 17 DOCN $11B

DigitalOcean CEO: ‘We are not going to be extraordinarily leveraged like some others’

The Technology Letter 27 clicks

From X

@rusholmecapital Jul 9 1 click

Rusholme Capital on X

(Late) Q2'25 Update New: $META, $STN.TO, $FTT.TO, $CVG.TO, $GDI.TO, $VCI.V, $IOT.V Sold: $KNSL, $CJT.TO, $RPI.UN, $MRD.TO, $HMM.A, $FORA.TO, $THNC.TO, $BRM.V Q2: 6.6% vs 10.6% for SPX ITD (Jan '21): +165% vs +68% Fairly happy with how the portfolio is positioned 👇 https://t.co/FPQbbegoEQ

@catechwilliams Jul 7 1 click

catechwilliams on X

$INGM Massive cyber & ransomware attack. All systems over the weekend. Still can’t fulfill orders after 4 days. Customers moving to competitors (as reported on Reddit). Likely permanent damage & customer losses. Ransomware payment due. Compounded by a major IT upgrade now needed. https://t.co/kQFbwFvcLA

@Adam_Wyden Jul 1

Adam D. Wyden on X

3/ $RICK $PAR $APG $GFL $TIC

@Adam_Wyden Jul 1

Adam D. Wyden on X

1/ Odd day. Sen. passes bill on housing and RESTAURANTS. No tax on tips/ no tax on overtime pay. Powell also not ruling out cuts and restaurant stocks ripping. Overhang at $PAR has been strength of their end market / customer. Today everything got better... @SavneetS @PAR_Tech

@Adam_Wyden Jun 29

Adam D. Wyden on X

@sidecarcap $par

@MultiplesCap Jun 24

Multiples Capital on X

$EXPE has always been a much slower grower than $BKNG, won't be surprised if it's a fav pair trade of hedge fund (long booking, short expe). Over the years though Expedia has been going through internal changes, sold some businesses (Egencia to AmEx travel and few other sites), went through a technology transformation for internal sites (Expedia, https://t.co/ap3OIandej, Vrbo). 50% improvement in operating margin since 2019. But not as profitable as Booking (operating margin at 12% vs 32% for bkng). Mainly a US focused player (unlike bkng) with a very strong B2B segment that's growing mid teens and about 30% of total revenue), now looking to expand internationally. To be seen if that would drive higher margin given the much fragmented hotel market internationally vs US. Bkng on the other hand seeing revenue growth slowing down to high single digit and mid teens eps growth with margins declining since 2019. Expedia needs to show higher top line growth but possible still delivers mid teens eps growth. Travel is cyclical but these OTA are very robust, they saw revenue growth even in the financial crisis, as more ppl look for deals. AI is an unknown, Expedia is embracing it. Finding a hotel with the right deal is not same as getting an answer to a question from LLM, distribution/platform should remain valuable. Interesting to see how the pieces fall for Expedia, PEG < 1 and these multiples should atleast provide downside protection

@Adam_Wyden Jun 18

Adam D. Wyden on X

At ~1400 units, DENN could also adopt payments and POS if the KEKE rollout goes well. Table serve is highly lucrative and produces ARPU many multiples of a traditional QSR store. @SavneetS @PAR_Tech $PAR $DENN

@Adam_Wyden Jun 18

Adam D. Wyden on X

https://t.co/eYw2cld5pU More than meets the eye here. KEKE is owned by DENNY's - once a PUNCHH cust. PAR has mentioned that several PUNCHH custs. are returning and we understand $DENN is one of them. Table serv. , POS, Payment, lot to like here. @SavneetS @PAR_Tech $PAR $DENN

Investor Letters

All letters

Expert Call | Q3 2026 Optical Components Market Dynamics, Vendor Market Share, & 2027 Growth Outlook

Optical-component vendor call covers 800G and 1.6T demand, AI cluster optical density, market share, pricing and 2027 growth for Coherent,…

COHR $41BLITE $69B

P Equity Research Oct 17 14 clicks

PayPal: Market's Extreme Mispricing Is Starting To Unwind

PayPal’s 10.3x forward earnings multiple and more than $6 billion in free cash flow frame a turnaround driven by cost cuts, Venmo and BNPL…

PYPL $49B

JR Research Oct 17 12 clicks

SiriusXM: Dirt Cheap, Looming Catalysts, Short Squeeze Candidate

SiriusXM trades at 6.5 times free cash flow, a 15% yield, with high short interest and catalysts that could drive a short squeeze.

SIRI $9.3B

Eagle Point Capital Oct 17 61 clicks

Meritage Homes: Cheaper On Book Than Any Year-End In A Decade

MTH $4.1B

Tim Travis Oct 17 12 clicks

Market Cracks Under AI Debt Burden | The Weekly Wrap

Steve Eisman examines AI data-center debt, CoreWeave's tech correction and agentic AI's effect on banks as earnings season begins.

CRWV $30BBAC $355B

Steve Eisman Oct 16 22 clicks

RELX: The Risk Segment Makes This Buy Less Risky

RELX’s 13-petabyte fraud and identity data moat supports its high-margin Risk segment as its valuation falls to roughly half its peak P/E.

RELX $68B

LA Capital Oct 16 10 clicks

OpenAI Does Math, Reward Hacking, Meta Launches Personal Agent

OpenAI and Meta push AI agents forward as reward hacking remains a core challenge for model training.

META $1.8T

Stratechery by Ben Thompson – On the business, strategy, and impact of technology. Oct 16 6 clicks

One More Note on Agents, Meta Connect, Meta Enterprise Platform

Meta ties AI agents and Meta Connect to its enterprise-platform opportunity.

META $1.8T

Stratechery by Ben Thompson – On the business, strategy, and impact of technology. Oct 16 17 clicks

2026.42: Home At Last

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

AAPL $5.1T

Stratechery by Ben Thompson – On the business, strategy, and impact of technology. Oct 16 6 clicks

GLOO: Gloo's own filings make the short case

Gloo's $3.25 follow-on, going-concern warning and $28.0 million first-half cash burn frame the short case against its acquisition-driven…

GLOO $269M

Guardian Research Oct 16 18 clicks

FINV · long

Finvolution Group

FinVolution, a China and ASEAN unsecured consumer lender, trades at 4x earnings and 0.5x book value.

FINV $704M

Value Investors Club Jul 20 5 clicks

DexCom: The 15-Day Sensor Lowered The Cost Curve Before The Type 2 Wave Arrives

DexCom’s 15-day G7 sensor lifted Q2 2026 gross margin 400 basis points to 64.1%, lowering CGM costs ahead of broader Type 2 diabetes…

DXCM $29B

Equity Eagle Oct 17 8 clicks

Twenty Years in the Dark

Tower Properties, $TPRP, went dark after a 2006 squeeze-out cut holders below 300, leaving a Kemper-controlled apartment and office…

TPRP $128M

Orphan REITs Oct 16 5 clicks

TSOH Weekly Roundup (10/16/2026)

Bumble agreed to a $1.3 billion take-private deal, while Netflix cut about 1,000 jobs and Meta discussed its Muse superintelligence models.

BMBL $787MNFLX $511B

TSOH Investment Research Oct 16 12 clicks

Dorchester Minerals: Variable Royalty Income Without Enough Valuation Discount

Dorchester Minerals' 9.5% normalized yield and debt-free royalty model are offset by limited upside at $29.71, as extraordinary…

DMLP $1.5B

Atlas Diary Oct 16 3 clicks

Tuya: A Global Smart-Home Platform Priced Like a Cash Box

Tuya’s $976 million cash pile equals 94% of its $1.04 billion market cap as its smart-home platform returned to 16% revenue growth in Q2…

TUYA $1B

Substack von Philipp Oct 16 44 clicks

Fannie Mae Preferreds For Post-Midterm IPO Announcement

Fannie Mae and Freddie Mac could leave conservatorship through a 2026 restructuring and IPO, monetizing the government’s equity stake while…

FNMA $4.9B

Glen Bradford Oct 16 5 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 $30B

WHAT ARE WE DOING? “Contrarians At The Gate” Oct 15 54 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 $7B

Atrium Research - Equity Research Oct 15 7 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 $7.2B

CV's Substack Oct 15 20 clicks

Sunday, October 18, 2026

Rusholme Capital on X

catechwilliams on X

Adam D. Wyden on X

Adam D. Wyden on X

Adam D. Wyden on X

Multiples Capital on X

Adam D. Wyden on X

Adam D. Wyden on X

Investor Letters

Publications we follow

Newsletters 109

YouTube 4

Blogs 15

Seeking Alpha 62 of 254

X accounts we follow

Investor letters we follow

Sectors