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Monday, November 9, 2026

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@aleabitoreddit

Serenity on X

I feel like traditional "value investing" went into hibernation. Before it was finding a 10x -12x P/E company like $UPWK or $PYPL, Dominoes, Pepsi. Or even a cheap Japanese company below book value. Then just enjoying slow growth but buyback/dividend appreciation from their cashflow. Now you can find 1.8x runrate P/E company like $ESMT that grew revenue 605.24% Y/Y. And the main thing you need to argue about is duration. Or a 16.2x trailing P/E Sumitomo, despite having way too many hyperscaler LTAs in AI from fiber to lasers. AI created much bigger medium-term anomaly, where "value investing" went towards high growth, "deep value" companies.
@InvestSpecial

Dalius - Special Sits on X

Love me some microcap crap. $GLND, an early-stage oil exploration company in Greenland, has just more than doubled in value. Well, of course, the Greenland-Denmark-US security agreement was announced. It all makes sense now: there is oil in Greenland, so obviously the agreement means the oil will be extracted. Perfect connection. To be serious, though, this is one of the most promotional stories I’ve seen recently. Why? GLND plans to drill what the CEO claims could be $1T worth of oil reserves in Greenland. The problem is that not a single well has ever been drilled on this land. The company does not even have the green light to drill yet. And btw, GLND doesn’t even own the licence. $80M.L owns it and is currently being acquired by GLND. The spread is extremely wide, but I wouldn’t touch it. The whole thing smells fishy. 80M.L and its management also have a terrible track record of dilution built around promises of enormous exploration potential across other Greenland projects. Unsurprisingly, very little came of those stories. The worst part here is the media coverage. It largely misses the promotional nature of the story and instead keeps feeding the Trump/Greenland narrative that management appears happy to lean into. That is also why you now get a huge move in GLND on a security agreement that, as far as the underlying oil project is concerned, changes essentially nothing. Microcap world is a fun place to be.

Investor Letters

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Seed Corn

Chiron’s failed $49 million Beaumont sale and $178 million Pinnacle acquisition leave XRN with $70 million of liquidity and medical-office…

XRN $372M
Orphan REITs 2 clicks

STRL: 80 new electricians a week

Sterling’s $4.1 billion backlog faces Texas permitting risk after a governor proposed a moratorium, while Connexion, Capital Asset Planning…

STRL $7.6B
Trade Ideas Flow 1 click

Diamond Estates: Research Note

Diamond Estates converts $4.7 million of Lassonde debentures at a 69% premium, cutting debt to $10.9 million and raising Lassonde ownership…

LSDAF $1.2B
Atrium Research - Equity Research 3 clicks

Vicor Update, Part Four

Vicor’s Federal Circuit hearing put Foxconn’s disputed patent license under pressure, reinforcing its AI server royalty model and licensing…

VICR $6.8B
CV's Substack 3 clicks

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
FND · long

FLOOR & DECOR HLDGS

Floor & Decor operates 281 warehouse-format stores selling hard-surface flooring and accessories nationwide.

FND $5B
Value Investors Club 1 click

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 26 clicks

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