Thursday, October 22, 2026

Mosaic: Cash from Potash Now, a Recovery in Phosphates Later

Mosaic’s potash business generated $930 million after capital spending and closure cash in 2025, while phosphate operations consumed $207…

Mosaic, Part One: The Story

Mosaic’s history traces the 2004 Cargill-IMC merger and the phosphate and potash mines that shaped NYSE: MOS.

Mosaic, Part Two: The Deep Dive

Mosaic, NYSE: MOS, is the subject of a second audio program for professional investors analyzing fertilizer producers.

Unicycive (UNCY):

Unicycive’s oxylanthanum carbonate NDA earned a March 25, 2027 PDUFA date after two manufacturing-related rejections, with no FDA clinical…

Thursday Tailwinds #12: Oct 22, 2026

PJM's 6,831 MW capacity shortfall is driving nuclear uprates, with Google contracting 890 MW from 11 operating reactors.

4 Boring Non-AI Stocks Trading at Attractive Valuations

Rollins, North America’s largest pest-control provider, gets 75–80% of revenue from recurring contracts but has fallen about 45% year to…

Group 1 Automotive (GPI) vs Lithia Motors (LAD)

Group 1 Automotive and Lithia Motors divide two longtime value investors: David Abrams switched to Lithia in 2018, while Greg Alexander…

Diageo: Gen Z Is Drinking Again, And They Want Cocktails

DEO $52B

SA PropNotes Oct 22 7 clicks

Atour Lifestyle ($ATAT): The Hotel Chain That Is Secretly a (Sleep) DTC E-Commerce Brand

Atour Lifestyle combines an asset-light Chinese hotel franchise network with Atour Planet sleep-product sales, using guest rooms as product…

Weyerhaeuser Company: Timberland Assets Offer Long-Term Upside At A Discount

Weyerhaeuser’s $23.07 sum-of-the-parts valuation rests on discounted timberlands, while its 4.3% dividend needs stronger free cash flow and…

WY $14B

SA Atlas Diary Oct 22 8 clicks

HWKN · short

Hawkins INC

Hawkins (HWKN) faces margin pressure as cost increases and municipal budget constraints weigh on its water-chemical distribution business.

[P] BLND: Non-GAAP Research Hour

Blend Labs governance discussion focuses on reverse-engineering non-GAAP signals of upside.

Biographies: Standing on the shoulders of Giants - Week 2 picks

Phil Knight, John D. Rockefeller and North Korean defectors anchor three recommended biographies of ambition, capitalism and survival.

Shaping Dollar Tree into its new era.

Dollar Tree targets 12%-15% annual EPS growth through 2028 as it shifts to multi-price merchandise, refreshes stores and uses data-driven…

Drilling Down on Disposal: Parallels Between Produced Water and Municipal Waste Disposal

WaterBridge and Secure trade at 10–11x 2025 EBITDA despite produced-water disposal economics resembling higher-multiple municipal waste…

Small Bank over 100 years old trading below cash 7x P/E buying back stock, increasing dividend, growing deposits

Citizens Bancshares (CZBS) trades below book and parent-level cash while buying back shares, raising its dividend and holding $95.7 million…

Sector Story: Flavours & Fragrances Part I - An Introduction

Flavour and fragrance suppliers control 67% of a $40 billion market, earning recurring, protected margins through deep FMCG R&D ties.

Why I bought FTAI Aviation

FTAI Aviation’s engine exchange model, owned fleet and Chromalloy PMA partnership target lower-cost CFM56 and V2500 maintenance while…

Bitmine Immersion (BMNR): DAT Ain't No Strategy

BitMine Immersion, an $18 billion Ethereum digital-asset treasury, faces a short thesis that its DAT model is becoming obsolete.

Stock Story: Next PLC's Capital Return Framework

Next PLC’s 9% IRR buyback hurdle helped cut its share count 53% over 20 years, lifting EPS 418% despite profit growth of just 2% annually.