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
George Noble on X
The collapse of $NVDA and the AI ecosystem will be truly epic. @GavinSBaker @chamath @Jason @darioperkins @DarioCpx @JG_Nuke @MichaelMOTTCM @biancoresearch
Raging Capital Ventures on X
Does the crash of Jensen’s “Bank of $NVDA” lead to a nuclear funding winter for underfunded AI neoclouds and startups?
Mr Neutral Man aka "Howard Marks of REITs” on X
When investing in liquidations, sometimes your security stops trading and gets priced at $0.00 and you have to just ignore how it looks in your brokerage account From a 5 figure cost to $0 in my IRA NOT MY FIRST RODEO!!! $ARI P.S. This illiquidity is kind of awesome!
Barbarian Capital on X
Yeti Cuts Year Outlook on Consumer Caution $YETI
Investor Letters
All letters- 103 Advisory Group October 2026 AMZN $2.9TGOOGL $3.6T
- Asset Value Investors Ltd October 2026 4347 $112M6727 $597M
- Sandon Capital — Activist Fund October 2026 FWD $134MSPSY $111M
- Minotaur Capital October 2026 META $1.6TAVGO $1.6T
- Bell Asset Management October 2026 CRH $64BEXPGF $34B
- Lakehouse Capital Small Companies Fund October 2026 COGZF $411MFNCHF $530M
- Lakehouse Capital Global Growth Fund October 2026 ADYEY $31BNOW $107B
- Spheria — Global Smaller Companies Fund month ended 31 October 2026 SFM $4.7BSN $32B
GrabAGun Q3 2026: Where Did the Cash Go?
GrabAGun’s $34 million Camfour acquisition cuts pro forma net cash to about $54 million as sales decline, losses widen and its buyback…
Nvidia and the World Without Jensen
Nvidia’s Jensen Huang resignation leaves a flat organization built around his direct control as China GPU restrictions tighten.
This Week in Special Situations: Coursera, eToro, Fluor, Trade Desk
Coursera trades at roughly $150 million enterprise value after Pale Fire Capital took 14.7%, with cash and Treasuries covering 83% of its…
Qure Anniversary Update
UniQure’s Huntington’s disease BLA has a May 1, 2027 priority-review date, with an FDA advisory committee expected in late first quarter.
Floor & Decor 3Q’26: Déjà Vu, But Priced For A Lost Decade
Floor & Decor cut its 2026 outlook again, with EBITDA guidance falling to $535-550 million and 2027 openings slowing to 10-15 as housing…
Big Short: Fidelity & Guaranty
F&G’s main insurer held $66.5 billion of assets against $1.38 billion of statutory capital, while private credit, reinsurance dependence…
AutoNation (AN): The CEO Takes a Driving Test
AutoNation’s new CEO Mike Manley brings Jeep and Fiat Chrysler experience after the dealer chain cycled through three leaders in 30 months.
Quanta Services (PWR): Backlog Up 63% While Shares Fall 30%
Quanta Services' backlog rose 63% year over year to $64 billion as shares fell 30%, with AI and power-infrastructure demand driving revenue…
Jensen Huang Resigns. Who Should Replace Him to Keep Nvidia Successful?
A hypothetical Nvidia succession scenario names Colette Kress interim CEO and favors Arm's Rene Haas or Nvidia's Ian Buck as permanent…
Petrobras: Record Earnings, Shrinking Dividends, And The Lula IV Problem
Petrobras posted record 3Q26 production and earnings, but higher investment needs are shrinking dividends as a possible Lula IV government…
Bernard Zambonin 6 clicks
OSW · short Onespaworld Holdings LTD
OneSpaWorld Holdings, the dominant outsourced cruise-ship spa operator across more than 200 vessels, is the subject of a short thesis.
WD #352: Situational Awareness, Warsh, ICE/MKTX, Overvalued EM Currencies
ICE's purchase of MarketAxess spotlights takeout risk for value stocks, while the Situational Awareness blow-up, Kevin Warsh's FOMC presser…
Earnings Week in the Graveyard
Empire State Realty Trust cut Observatory NOI guidance to $55 million from $87 to $92 million after Q2 NOI fell roughly 50%, reducing Core…
META 2Q26 Earnings Update
Meta's Q2 advertising revenue rose 27% to $59.4 billion, while costs climbed 55%, cutting operating margin to 31%.
Floor & Decor 2Q'26: Tentative Green Shoots
Floor & Decor held 2026 guidance after a 2Q beat, with comps improving through June; tariff refunds lifted margins and may fund pricing…
Interview with Roderick van Zuylen
Roderick van Zuylen discusses Night Watch’s value strategy, catalyst-driven screening and positions in Asian equities including Dream…
British American Tobacco: Narrowed
British American Tobacco targets 2 to 2.5x leverage by year-end as U.S. Vuse sales grow double digits and modern oral volumes rise 57.5% in…
FTAI update.
FTAI Aerospace margins fell to 28.5% as it pursues airline market share, while Power signed a $1.465 billion hyperscaler order and targets…
Appearance The Stansberry Investor Hour Podcast
The Stansberry Investor Hour features a discussion of Constellation Software’s AI prospects and Natural Resource Partners.
Altria: The Clock Ticks More Loudly
Altria’s Q2 2026 results sent shares down 9.3%, as segment performance and competitor news outweighed its low-teens P/E and roughly 6%…
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Sectors
Ordered by how often our editor reaches for them.
