Big Short Investor Explains How the AI Bubble Could Burst
Steve Eisman argues the AI boom rests on a handful of companies and hundreds of billions in infrastructure spending, risking recession and a sharp market correction.
Monday, November 9, 2026
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Barbarian Capital on X
"has become a political lightning rod in Virginia" Giant Merger of NextEra and Dominion Could Fail Amid Anger Over Electricity Bills $D $NEE
Barbarian Capital on X
"pre-orders for “GTA VI,” which drops Nov. 19, have reached unprecedented levels" Take-Two Interactive Software Reports Lower Revenue Ahead of ‘GTA VI’ Launch $TTWO
Barbarian Capital on X
JBS Reports Lower Profit, Citing Difficult Operating Environment $JBS
Barbarian Capital on X
"signed a preliminary deal Monday to explore investments" Exxon Takes First Step Toward Investing in Venezuela $XOM
A Capital on X
Opening salvo or broken deal? $GFL
Psyop Capital on X
@MidwestHedgie $br
Barbarian Capital on X
We're not far from a banker pitching $GEV or $CAT on buying $PTON for behind-the-meter power.
Investor Letters
All letters- Spheria — Global Smaller Companies Fund month ended 31 October 2026 SN $31B
- Rathbones October 2026 SBGSF $143BSIEGY $233B
- FCL Capital October 2026 ANPDF $28BASML $575B
- Protean Funds October 2026 LFABF $13BNSIS-B $30B
- Horizon Kinetics 3rd Quarter 2026 TPL $19BLNG $64B
- NS Partners Q3 2026 AAVMY $39BALBKY $12B
- Akre Capital Management, LLC Third Quarter 2026 BN $96BCNSWF $50B
- JB Global Capital Q3 2026 BABA $262BPYPL $49B
One Regulator Could Soon Unlock Altria And Cronos' Cannabis Fortune
Adult-use cannabis rescheduling would open Altria’s 42% Cronos stake to a U.S. market rerating.
Aseity Research 2 clicks
Roblox: Capture This Moment
Roblox’s Q3 FY26 DAUs fell year over year for the first time, while bookings declined 12% to $1.7 billion.
Nextpower: Its Biggest Growth Opportunity Now Lies Outside The Trackers
Nextracker's $6 billion order book supports cross-selling battery storage and inverters, now 22% of revenue, though acquisition-led growth…
Investor Overview 2 clicks
DoorDash and Google
DoorDash and Google.
The TL Podcast for November 9th: The spy who loved me
Nvidia CEO Jensen Huang faced new revelations after a week of political upheaval and a broad technology-stock sell-off.
Jensen Huang’s Affair, The Culper Report, Huang’s Righteousness
Nvidia CEO Jensen Huang faces an unverified allegation involving a Chinese spy.
Speedrun | Upcoming Events This Week - [November 2 - November 6, 2026]
Week ahead lists Nvidia, earnings, inflation and PPI releases alongside Iran conflict developments.
Moody’s: Fasten Your Seat Belts, But Not for AI
Moody’s ratings business faces potential deceleration, while AI-related debt issuance and anti-data-center politics pose less risk than…
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…
Expert Call | EMIB-T Packaging, Glass Core Roadmap & 2027 ABF Substrate Supply Outlook
Intel’s EMIB-T, glass-core roadmap and 2027 ABF substrate supply outlook are the focus of an expert call.
The last Bristol Myers' blog post was wrong on the core thesis
Ivonescimab plus chemotherapy extended median overall survival by 4.2 months versus Tevimbra plus chemotherapy in HARMONI-6, challenging…
HBM: High-Bandwidth Mistake
HBM’s economic, thermal and power costs will drive a 90% volume drop from peak within 7-10 years, while DRAM stocks remain cyclical.
Bubbles, a UK Compounder & Ferrari’s Future
Jeremy Grantham says AI has interrupted a bear market and predicts a 50% market decline, drawing on GMO’s study of 27 bubbles.
SoFi: DCF Valuation
SoFi's DCF values shares at $18, forecasting adjusted net revenue growth from 30% in 2026 to 3.5% by 2035 as it scales its digital bank…
Tractor Supply: A Yield Worth Harvesting
Tractor Supply, the 2,641-store rural lifestyle retailer, is pitched as an undervalued defensive compounder, supported by recurring…
Natera: Is the Future Worth Paying up for?
Natera's long-term future is weighed against its current valuation.
The Formula Hiding in Plain Sight
Spotify’s 761 million MAUs and investor-day formula explain how it holds off Apple, Amazon and YouTube Music despite their loss-leader…
The Dynamics of Inventories, Demand, Friendships, and Risk
Nvidia’s 14th straight beat-and-raise came with a clean balance sheet, while inventory risk tied to Blackwell GPUs has shifted elsewhere.
A non-consensus thesis: the forthcoming demise of Bristol Myers Squibb.
Bristol Myers Squibb’s bear case centers on patent-cliff revenue losses, debt, and failed drug investment after $28.3 billion of 2019–23…
Adobe Deep Dive
Adobe trades at 14x earnings after a 65% decline, with AI, Canva and Figma threatening subscriptions, customer acquisition and…
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