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.
Tuesday, November 10, 2026
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Negligible Capital on X
*MICROSOFT SOURS ON NEOCLOUDS OWING TO DATA CENTER DELAYS, COSTS *MICROSOFT DATA CENTER DELAYS TIED TO IREN SITE IN TEXAS Yikes - $IREN
Myles on X
Closing my eyes and selling puts on $META and $APLD while throwing up in my mouth.
BDC on X
$spy puts were dirt cheap, yesterday
SG on X
$PDD is up today, probably because a lot of traders will need to buy all their necessities on Temu after this selloff
Mr Neutral Man aka "Howard Marks of REITs” on X
Hmm, come to think of it. Maybe that previous chart isn't so far off. It's just that I own the stuff that's got at least a 20% discount to NAV A good example is that $PSA $EXR are 5.1 and 5.5% cap but $CUBE is 5.8%, but in the mid 6% not that long ago Bigger REITs also has more weighting
Ian Bezek on X
$SOXL down 40% this week. Congrats to all involved, especially the SEC for allowing this nonsense.
Ian Bezek on X
@evfcfaddict Some motivated sellers in Nasdaq today. Nice little factor rotation $QQQ
junkbondinvestor on X
Apple new issue IPT: 2Y: T+45 (plus FRN) 3Y: T+50 (plus FRN) 5Y: T+60 7Y: T+70 10Y: T+80 For context, existing $AAPL 10Y at ~20bps. About 60bps of spread concession.
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
- 13D Activist Fund third quarter of 2026 KNF $3.5BRMV $5.4B
- 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
Amplitude (NASDAQ: AMPL) Stock Rating: Distribute After Q3 FY12/26 Earnings (No Paywall)
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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.
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.
FND · long FLOOR & DECOR HLDGS
Floor & Decor operates 281 warehouse-format stores selling hard-surface flooring and accessories nationwide.
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.
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…
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…
IREN Is Down 71%. Should You Buy the Dip?
IREN has fallen 71% despite AI Cloud revenue rising from $7.3 million to $200 million quarterly and more than $20 billion in contracted…
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.
Ouster Q3 FY12/26 Earnings Review (OUST) - Stock Rating: Accumulate
Ouster grew Q3 revenue 50% to $59.3 million, shipped 27,000 sensors and guided Q4 revenue to $61 million to $64 million while posting a…
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…
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