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Sunday, November 8, 2026

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@AsifSuria 5 clicks

Asif Suria on X

Another large insider purchase by a director of Borr Drilling $BORR filed today (yesterday was a holiday for the SEC and so no Form 4 filings). This is his largest single day insider purchase coming in at $11.84 million. We had been watching him buy consistently for several weeks and decided to dive into the company in an Insider Weekends article last Sunday. As we did our research, we realized that he was the founder of the company. A couple of screenshots from that article in the next tweet.
@DOMOCAPITAL

DOMO Capital Management, LLC on X

Wow - @ryancohen was right. These are not the actions of a value investor. This is hardcore trading. Is there any recommendation @michaeljburry has actually held for longer than a month (or that has actually increased in value) since this newsletter has started??? $GME would have counted in both categories if he had actually held.... Just brutal performance since inception. Maybe this is why he has refused to publicly release his funds performance? I think Burry is the only "big name" investor where the public has no clue what the actual performance of the fund was since inception. Crazy lack of transparency.
@convequity

Convequity on X

$AVGO's Hock Tan is right that capital is now the constraint on AI, and that is healthy. The $60bn banks are placing for Anthropic's lease of $GOOGL's TPUs shows how it gets eased: by moving risk, not reducing it. We read his two remarks as cause and effect: tokens are not yet earning a return, so capital is expensive. That brake stops a buildout outrunning its returns. The $42bn senior slice leans on Broadcom's A-minus credit through a partial guarantee of the chips' residual value. The rest is expected to wait for Anthropic's IPO. The brake works where Broadcom's credit stops. On the guaranteed slice the risk has moved, not shrunk: out of a loan spread lenders would price, into a chip deal the seller priced, onto a balance sheet already long the same cycle, where it is too small to move the shares. Google sits on the same outcome three times: Anthropic shareholder, TPU lessor, Broadcom's customer for those chips. The IPO junior lenders are waiting for also puts a public price on Google's stake, and Broadcom's guarantee is safest if it goes well. Spreading risk only reduces it when the holders are diversified against it. None here are. Each piece is ordinary. The total is capital arriving ahead of proven returns, and two of the market's largest companies carrying more of one lab's downside than their labels suggest.

Investor Letters

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NEW POSITION: Google LEAPS

Alphabet bought long-dated GOOGL calls after a 12.6% earnings drop, betting AI monetization and distribution overcome capex pressure and…

GOOGL $3.5T
Hated Moats 1 click

Floor & Decor 3Q26: Business Update

Floor & Decor’s 3Q26 sales rose 3% while comparable sales fell 1.4%; it cut 2027 openings to 10-15 as high mortgage rates pressure…

FND $5B
Speedwell Memos 1 click
MTMTY · short

Metlen Energy & Metals PLC

Metlen Energy & Metals faces a 40% short case centered on its overpriced aluminium, alumina and Greek power businesses.

MTMTY $6.8B
Value Investors Club

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 24 clicks

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