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
Skydance Plans to Cut $6 Billion in Costs Following Warner Bros. Deal $SKYD
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
"after third-quarter sales came in lower than expected" Hims & Hers Narrows Sales Outlook $HIMS
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
Investor Letters
All letters- Spheria — Global Smaller Companies Fund month ended 31 October 2026 SFM $4.8BSN $31B
- Rathbones October 2026 SBGSF $143BSIEGY $233B
- FCL Capital October 2026 ANPDF $28BASML $575B
- Protean Funds October 2026 AAK $4.8BLFABF $13B
- Horizon Kinetics 3rd Quarter 2026 TPL $19BLB $5.1B
- NS Partners Q3 2026 AAVMY $39BALBKY $12B
- Invesco — Discovery Fund Q3 2026 MOD $5.2BSMTC $8.5B
- Akre Capital Management, LLC Third Quarter 2026 BN $96BCNSWF $50B
Anthropic vs Meta: Room to Be Wrong
Anthropic and Meta carry $1.5 trillion valuations on distinct AI bets: Meta directs roughly 60% of capex to MSL, while Anthropic shifts…
Quick Value #337 - Dana Inc (DAN)
Dana is combining with Eaton’s Mobility unit via a 1Q27 Reverse Morris Trust after selling a division, delevering and accelerating buybacks.
SSR Mining: A Very Well Positioned Company For Long Term Growth
Daniel Bell 1 click
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…
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.
DoorDash and Google
DoorDash and Google.
Nova: Chip Complexity Is Driving Impressive Growth
Nova Ltd.'s Q3 revenue rose 28.2% as GAA, HBM, advanced DRAM and packaging complexity lifted demand, pushing non-GAAP margins to 35.5%.
Daniel James 1 click
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.
ADBE · long Adobe INC
Adobe's dual network effects and platform entrenchment make AI fears a buying opportunity for the software compounder.
Netflix: Deep Dive Analysis
Netflix's Q3 guidance points to sub-12% growth as viewing hours rise about 2%, increasing reliance on pricing, paid sharing and advertising.
The Neoclouds Series, Part 1: Nebius
Nebius opens a series arguing Nvidia-backed neoclouds absorb the debt and construction risk of AI data centers while driving GPU demand.
Netflix: Below forward 20 PE Ratio for one of the best companies in the world
Netflix trades below 20 times forward earnings despite $51 billion in revenue, 31.5% guided operating margin and ad revenue expected to…
PayPal, Declined
Stripe and Advent’s reported $53 billion bid for PayPal follows a decade in which Stripe’s payment volume outgrew PayPal’s Braintree.
TSOH Weekly Roundup (07/24/2026)
TSOH Weekly Roundup covers the Paramount-Warner court block, Xbox Game Pass’s subscriber shortfall and pricing reset, and Red Bull’s 28%…
Tesla and SpaceX's Likely Merger, Portfolio Change
Tesla and SpaceX are increasingly integrated through Terafab, Optimus, Grok and Starlink, strengthening the case for a merger to pool…
Coupang: Normalization (Ticker: CPNG)
Coupang says customer demand is normalizing after its 2025 data leak, while Q1 vouchers and underutilized capacity pressure margins.
Rocket Lab Deep Dive
Rocket Lab’s $8 billion Iridium acquisition adds 2.6 million subscribers, L-band spectrum and Pentagon-linked satellite revenue alongside…
Molina Health Revisited
Molina Health is revisited.
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