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Monday, November 9, 2026

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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

From X

@ACapitalLP

A Capital on X

Great additions. Was starting with the more liquid names. $CODI is absurdly undervalued, with asset sales a clear catalyst. $STGW is fascinating. Nobody knows it because it sounds like what British people call a bachelor party rather than well known peers WPP or Publicis, yet the underlying growth is exceptional. More management meetings lined up than I can ever remember seeing. Hard to imagine investors walking out of those anything but impressed…
@aleabitoreddit 1 click

Serenity on X

It think it's stupid that "AI Bubble" gets used over and over. In infra names you have: - 1-3x fwd P/E memory companies from Samsung to $ESMT. With HBM players now having hyperscaler multi-year price floor LTAs. - Optical companies like $POET traded -$97M under net cash. Valuing the operating business very negatively, not even at $0. - While AI companies with larger premiums continue to record demand over the next 3-5 years. Such as the new $20B LTAs signed w/ $COHR to $5B LTAs signed w/ $LITE. Can someone in the media honestly see negative EV high-beta optical companies, where 2 years of burnrate would still value the company below $0. or single digit memory companies with contracted demand + price floors years out and say that's a bubble? Many of these names are extremely profitable today... But obviously there's other elements inside the theme, such as: - Certain startups like Instinct that look like a private valuation bubble. - Leveraged Neoclouds that didn't finance properly - and AI lab valuations and commitments, which should be viewed cautiously. But everything gets grouped into one with the boogyman of "leverage" or "debt". Yes, valuations can compress or correct from macro, potential regulatory uncertainty, or potential capex reductions. But for the companies physically powering the AI buildout, it looks more like the Great AI Deleveraging of 2026... Than anything like fundamental demand destruction. As more earnings come out and free cash flow accumulates over time. I'm confident in a recovery, especially in bottlenecks, and for markets to eventually discern durability + growth over frothy valuations tied to AI.
@calvinblissett 1 click

Calvin Blissett on X

$EMBC: Embecta (EMBC), spun out of Becton Dickinson in 2022, makes the pen needles and syringes people with diabetes use to inject insulin. Its U.S. pen needle business is shrinking from lost share and price cuts, and more patients are moving from daily insulin shots to weekly GLP-1s. To offset that, it is selling its needles inside the boxes of generic GLP-1 drugs, already launched in India, Canada and Brazil and targeted at $100M+ in revenue by 2033. It is also launching cheaper needles and syringes for new markets and buying into other drug-delivery products beyond insulin. Quick Pitch $350m Market Cap/$1.62B Enterprise Value. Less than 3x P/E. Warren Buffett Owners Earnings of $122m ex SBC. Cut dividend switched to $100m Buyback authorization that's being used. CEO/CFO/Director/CLO all bought August 12th

Investor Letters

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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 3 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
CCOI · long

Cogent Communications Hldgs

Cogent Communications (CCOI) is presented as a long investment idea, revisiting prior bull cases from 2022 and 2025.

CCOI $324M
Value Investors Club 8 clicks

FrontView REIT (NYSE: FVR)

FrontView REIT’s 35% selloff after tenant credit problems and a lock-up expiry leaves its net-lease portfolio at a 9.5% cap rate and 10.5x…

FVR $511M
Real Assets, Real Value

CYD and H22 Results First Take:

CYD’s FY24 earnings miss reflected ¥200m of one-offs; adjusted net income reached roughly ¥430m and operating cash flow rose 40%.

CYD $807M
Maius Partners 2 clicks

Portfolio Updates

CYD was sold near $21 versus an $11 entry after exceeding a $19.50 target; proceeds moved to H22.SI, whose CYD stake implies $1.30 NAV and…

CYD $807M
Maius Partners 4 clicks

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