Bullpen.News From Edwin Dorsey
Get Daily Recap Feedback

Tuesday, November 3, 2026

Back to the front page

TWLO Q3 FY12/26 Earnings Review

Twilio's Q3 revenue rose 20% to $1.56 billion, but Q4 organic growth guidance fell to 11% to 12% and RPO declined 28%.

TWLO $33B
Cestrian Capital Research 3 clicks

From X

@KEDM_COM 2 clicks

KEDM.com on X

Right Tail @JeremyKokemor bought $HCA at about 12x earnings on a local-density argument: hospitals compete neighborhood by neighborhood, and HCA holds #1 or #2 share — averaging 25-30% of each market in about 80% of its markets, primarily in Sunbelt states. Outpatient access points — 14 per hospital, heading toward 20 — feed the hospitals, and about 75% of admissions arrive through the ER. Margins held in the high teens through 2009, and half the shares have been retired since the 2011 re-IPO. Historically, HCA has compounded revenue at roughly 7% annually and EPS closer to 17%; Right Tail models mid-single-digit revenue growth and 10-15% EPS growth.
@Fierce__beast 2 clicks

Fierce_beast on X

Here's the J-curve stock shape -- many examples of software stocks and high growth stocks, sometimes even large mature companies that release a new product. $MPWR was shaping up for this in November 2024 (I wrote about this and went long) when it dropped a lot after they "lost $NVDA" marketshare, but of course their custom AI accelerator business was growing something like 100% a year, and it was only a matter of time before it showed up in the earnings. It subsequently re-rated after troughing at 35x and had significant earnings growth. Today it goes for 35x again. Will there be another big bump in a few years, maybe robotics?

Investor Letters

All letters

FTAI Aviation Update, Part Two

FTAI Aviation’s $234 million Jereh JV deposit funds Power inventory, while customer concentration, lower cash guidance and pending U.S.

FTAI $20B
CV's Substack 5 clicks
BSP · short

Bending Spoons Spa

Bending Spoons is a software and digital-assets holding company that has completed more than 50 acquisitions since 2013.

BSP $29B
Value Investors Club 1 click

Publications we follow

Every publication on this site, hand-picked.

129 publications

Newsletters 109

YouTube 4

Blogs 15

Seeking Alpha 74 of 275

Nominate a publication

X accounts we follow

Every account on this site, hand-picked.

91 accounts
Nominate an account

Investor letters we follow

359 firms

Sectors

Ordered by how often our editor reaches for them.