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Wednesday, November 11, 2026

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@ActAccordingly

PAA Research on X

How magnanimous of Michael Intrator at $CRWV to halt his 10b5-1 stocks sales. Checking filings. Looks like he sold 10MM shares for roughly $1B in gross proceeds (mostly this year). The three founders combined cashed out $3.3B of stock since the IPO. No doubt this stock can be a fantastic trading vehicle given its volatility (250% implied vol into the print), but if you're thinking of this in any longer term context, management already told you what they REALLY think of the business on a longer term horizon....
@aleabitoreddit

Serenity on X

There's a lot of news about WT (3036) introducing their first CW DFB laser line card. More significant than people think for medium-long term. For economic impact and what revenue looks like: - $SMTC generated 74% of its revenue through distributors. $AMBA as another example, ~60-70% of their 2026 revenue went through this company. - With WT in specific, if you look at even a large company like $AVGO scaled: -> 13% of Broadcom revenue went through WT in 2020 -> 18% (2021) -> 20% (2022) -> ~21% (2023) -> ~28% (2024) -> now possibly up to ~46% (they stopped naming) Just showing how important the largest distributors in the world become to semi companies. Given how WT chairman attributed rapid growth coming from AI photonics demand (eg. DSPs to optical module makers): It becomes more interesting for a certain company that WT introduced their first CW DFB laser line card during an industry bottleneck.
@calvinblissett

Calvin Blissett on X

The Value Investor's SpaceX ($SPCX) : A Korean Preferred at 0.3x Book. Indrect exposure to SpaceX=~68% of price, Management Says It Wants the Gap Closed. 4% dividend, 4x conservative earnings. Brand advantage in a commodity indsutry. Fundamental Business does not earn from Space X at all 𝘈𝘭𝘴𝘰 𝘒𝘰𝘳𝘦𝘢𝘯 𝘱𝘳𝘦𝘧𝘦𝘳𝘳𝘦𝘥’𝘴 𝘐 𝘱𝘢𝘴𝘴𝘦𝘥 𝘰𝘯 𝘢𝘯𝘥 𝘸𝘩𝘺, 𝘧𝘰𝘳 𝘧𝘳𝘦𝘦! 𝘈𝘴 𝘸𝘦𝘭𝘭 𝘢𝘴 𝘸𝘩𝘢𝘵 𝘐'𝘮 𝘸𝘢𝘵𝘤𝘩𝘪𝘯𝘨 𝘳𝘦𝘨𝘢𝘳𝘥𝘪𝘯𝘨 𝘵𝘩𝘰𝘴𝘦 2.

Investor Letters

All letters

Airbnb 3Q26: Business Update

Airbnb’s 3Q26 revenue rose 19% to $4.9 billion as nights and seats grew 16%, with app bookings up 29% and Reserve Now Pay Later adding…

ABNB $111B
Speedwell Memos 2 clicks

Research update

S&P Global research will assess Platts, Kensho and ratings growth; Benefit Systems’ 72% YTD rally changed its valuation, while Netflix and…

SPGI $136BICE $96B
Global Outperformers 3 clicks

Monte Investments Market Brief Vol. CXXXV

Quanta Services’ backlog rose 63% year over year to $64 billion as shares fell 30%, while AI power and data-center construction demand…

PWR $77B
Monte Independent Investment Research 2 clicks
WDAY · long

Workday INC

Workday shares have declined since February 2024 as the market has turned against SaaS stocks.

WDAY $47B
Value Investors Club 1 click

The Quality Check #1

The Quality Check #1 reviews recent developments at Arista, Cummins, Veeva, ServiceNow and AppLovin following earnings season.

ANET $235BCMI $64B
Jimmy's Journal

Celsius: The Pepsi Put

Celsius holds 20% of the U.S. energy-drink market and 40% of sugar-free sales, but its $1.65 billion Alani acquisition complicates…

PEP $194B
TSOH Investment Research 8 clicks

AppLovin Deep Dive: Not A No Brainer

AppLovin is down 48% YTD after its first guidance miss, with revenue 1% below expectations and EPS 2.5% short, reviving fears of an adtech…

APP $118B
Capitalist Letters 7 clicks

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