Looking Back at Another Successful Thesis
DoubleU Games raised its all-cash tender offer for DoubleDown Interactive minority holders to $16.25 per ADS from $11.25 after net cash made the earlier bid untenable.
Thursday, November 12, 2026
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From X
Brian McGough on X
$BOOT is taking up store adds by 10-15% for '27, but is taking DOWN revenue forecast. Can anyone with half a brain convince me that this is a positive development? Never ends well...
DOMO Capital Management, LLC on X
You heard it here first... what a huge earnings beat for $PBI "Specifically, we added more than 30 new clients, representing an estimated two billion pieces of annual volume, as a result of this exit"
absreturnchaser on X
@essential6t7 @ChopraUSA Buyside more focused on $WU taken over by now. Was said they launched sale process post-bid. Think market still underestimating buyout odds, add to that high SI.
absreturnchaser on X
@mario_cibelli Not for $WU: decline comes from price cuts & higher commissions, which flow straight to profit. If future losses come from vol instead, much of hit offset by lower variable commissions. Plus H2 cost cuts puts break-even beyond 8–9%. write-down unlikely, bc GW tested with digital.
junkbondinvestor on X
Dave & Buster’s $691mm 1L TL due 2029: February: 94 Today: 56 Company has hired Moelis. Lenders have hired PJT and Gibson Dunn and signed a co-op. Everything is fine. $PLAY
Lee Roach on X
Who is smart on Tripadvisor $TRIP? Seems blown out here.
Investor Letters
All letters- Asset Value Investors Ltd October 2026 4347 $112M6727 $597M
- Sandon Capital — Activist Fund October 2026 FWD $134MSPSY $111M
- Minotaur Capital October 2026 CROX $7.3BHUT $7.3B
- Lakehouse Capital Small Companies Fund October 2026 COGZF $411MFNCHF $530M
- Lakehouse Capital Global Growth Fund October 2026 SNSNF $1.8B
- Spheria — Global Smaller Companies Fund month ended 31 October 2026 SFM $4.7B
- Forager Funds Management October 2026 OFX $71MPLT $95M
- FCL Capital October 2026 INTR $1.8BRSGN $946M
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Sanjay Swamy 
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Undercovered Dozen: Coherent, Bank Of America, MaxLinear And More
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The Undercovered Dozen 5 clicks
Seritage Growth Properties: Final Stages of Liquidation
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Irreplaceable Assets, Explosive Growth, On Sale: LandBridge Q3 2026 Update
LandBridge’s Q3 revenue rose 39%, while newly acquired pore space could lift pro forma EBITDA and cut its 2027 EV/EBITDA multiple from…
Joby Aviation (NYSE: JOBY) Stock Rating: Accumulate After Q3 FY12/26 Earnings
Joby Aviation reported $55.1 million in Q3 revenue, raised 2026 guidance to $135 million to $140 million, and expects FAA pilot training in…
MARA Holdings Q3: Massive Deleveraging Sets The Stage For The AI Colocation Premium
MARA Holdings cut debt by $1.4 billion after an $885 million Bitcoin gain, while 1.9 GW of energy assets and a $79 million GPU contract…
Mandela Amoussou 1 click
Q3 Earnings: XPEL, Liberty Capital, Douglas Dynamics, Strattec, Seaport (XPEL, GLIBA, PLOW, STRT, SEG)
Liberty Capital’s GCI business grew 5% in high-margin healthcare and school contracts, while Quintillion could lift EBITDA to $440 million…
Vir Biotechnology: Fairly Valued After Phase 3 Success?
Vir Biotechnology’s hepatitis delta therapy posted 44% primary endpoint success in Phase 3, alongside a new Gilead partnership and $991.3…
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The AutoNation Story
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