Bullpen.News From Edwin Dorsey
Get Daily Recap Feedback

Saturday, November 7, 2026

Back to the front page

Post Q3 EVC Update

EVC's Q3 update cites $30 million for a single station, a broadcast-business sale and stronger positioning for 2027.

EVC $832M
Nat Stewart - Stock Picking Newsletter 11 clicks

From X

@MaiusPartners 1 click

Maius on X

$PSIX Q3 results and recent power sector thoughts: The company delivered an exceptional Q3 clean “beat and raise” by any measure — even better than the record Q2 2025, when the stock peaked at over $100, with a much better story today. Yet the stock trades at a fraction of the valuation, Why? Long-term followers know we turned constructive on $PSIX only recently after an extensive amount of fundamental work and have not been afraid to be critical in the past. It was a meaningful position heading into the print. Given broader sector risks, we also held several related short positions as a factor hedge. However, after analysing $ANT S1 filings and election results, we think the narrative has shifted materially over the past week and when the facts change, it’s always important to reassess one’s central beliefs and have opted to close the majority of the long positions in $PSIX (retaining an OTM call option), while keeping all the shorts. The high level math: ~30 GW of behind-the-meter power capacity is scheduled to become available in 2027, scaling to >100 GW by 2030 if the dozen suppliers deliver on announced expansions (many won’t). Absent major changes in U.S. politics or AI model diffusion rates to support far higher collective monetisation rates across the entire industry, rapid buildout of new data centres on American soil can neither be justified economically, nor politically, a view held by the credit markets for some time, but only just beginning to be priced in by equity investors. The behind the meter power industry risks moving quickly into excess in such a scenario, with incremental suppliers at especially high risk. $PSIX has been one of the top-performing behind-the-meter power plays we track since our recent full note. Its unfortunate market conditions changed so quickly, substantially reducing the probability of developing into the multi-bagger we envisioned. Congrats to everyone who made money in this sector the past few months, it certainly hasn’t been easy (especially on the long side!) — and have a great weekend! DMs always open for those wanting to discuss further.
@Mr_Neutral_Man 1 click

Mr Neutral Man aka "Howard Marks of REITs” on X

Not denying nor confirming my VIC identity and I generally would refrain from doxxxing That write up had zero mention of tax analysis which is why funds can't own it. Buying $1mm of $ARI could result in $520k to $833k of cap gain in 2026 before you get any distribution. IMO, whoever ranted against that write up is doing all the members a tremendous service. I personally did a week worth of work on it and talked to some of the smartest folks about REIT liquidations and taxes. I finally found a solution that I feel comfortable with. I didn't buy it in the fund I manage due to the 2026 cap gains. But I found a bespoken solution that I think works for me
Mr Neutral Man aka "Howard Marks of REITs” ARI $310M
@AsifSuria 1 click

Asif Suria on X

Exactly! I've been long $LION for a while and violated my rule of never averaging down after @garyHeff made me see that this was one of those cases where an exception made a lot of sense. That was when LGF was trading at around $6. I should have held on to the $STRZ spinoff but I didn't see it the same way you did and that was a mistake. Hoping the deal for $LION is in the high teens or over $20 so Jon can get a wonderful payout based on his new incentive plan.

Investor Letters

All letters

GREAT DEC-TECTIVE WORK

Diversified Energy reported $255.6 million of “true” nine-month free cash flow, while its $1.8 billion Birch acquisition would shift…

DEC $900M
The Oak Bloke 2 clicks

Verra veerer

Verra Mobility’s Avis termination threatens 2027 earnings, while Government Solutions profit rose 25% and implied fourth-quarter guidance…

VRRM $333M
The Oak Bloke 3 clicks

TSOH Weekly Roundup (10/30/2026)

Markel spent $315 million repurchasing shares in Q3 as Thrive agreed to buy ADT for $7.6 billion and Hasbro cited rising adult toy demand.

BBW $371M
TSOH Investment Research 1 click
VITL · long

Vital Farms INC

Vital Farms is a long idea after bird flu-driven egg supply losses coincided with a structural shift.

VITL $459M
Value Investors Club

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 $790M
TSOH Investment Research 12 clicks

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.