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Friday, November 13, 2026

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Industry Primer: Alternative Asset Managers

Alternative asset managers earn durable fees on committed capital, but 2026 losses followed retail-credit redemptions, lender-fraud allegations and AI fears around portfolio software…

BN $94B
Latticework by MOI Global

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@convequity 1 click

Convequity on X

Reflections on $NVDA's corporate governance after Jensen Huang's exit 1) It is strange that the CIA and the government ran the rumored China spy investigation without notifying Nvidia's board and Jensen first. The matter had been brewing for several quarters, and the news only broke after the mid-term election. 2) Jensen should have asked for a bigger stake in Nvidia, just as Elon Musk did at $TSLA. Elon set an outlandish long-term stock price target with a vesting schedule tied to it, and that gave him more control and more ownership. 3) Dual-class share structures, where the founder's shares carry extra votes, are rare among established semiconductor firms. This lack of founder voting control is a common issue across semiconductor companies. Jensen seems to have been too focused on technology and too little on politics and control. 4) Where Jensen goes next is the open question. We hope Nvidia gets him back in some way, or Elon hires him, or he finds another place to thrive. Age 63 is just the start for him. We hope he perseveres through this storm and thrives. The worst case is that he retires into a VC-like role, but we don't think he will settle for that at this stage. 5) In the best world, NVDA shareholders would vote to bring Jensen back and fire what we see as a woke board. We think that is unlikely. Share ownership is widely distributed and the investor base is very diversified. Many of those investors do not follow the company or its governance closely, so they are hard to mobilize. And the board was not constructed as thoughtfully as the one Elon built, after he suffered the same problem early in his PayPal years. 6) Those who said founder control, vision and ownership don't matter to the Nvidia business will feel they are right, and buying the dip will look great in the short term. We think they will be proven wrong over the longer term. 7) This is a great time for $AVGO, $AMD and $CBRS. But note that Broadcom and AMD have similar governance issues too.

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Top Rebound Stocks for Nov’26

Texas Pacific Land's 50% selloff reflects faded data-center expectations, while its Permian royalty business generated $498 million of 2025…

TPL $19B
Rebound Capital 2 clicks

DoorDash’s FBA Moment

DoorDash’s $17 billion Instacart deal targets DashMart warehouse scale, where 99%+ order accuracy and faster delivery address the limits of…

DASH $78BKR $41B
MBI Deep Dives 3 clicks

Sea Ltd Earnings Update: Q3 2026

Sea Ltd reported Q3 2026 revenue of $8.6 billion, up 43.4% year over year, while net income rose 34.0%.

SE $45B
SixSigmaCapital: Navigating the Financial Markets 7 clicks

TWLO Q3 FY12/26 Earnings Review

Twilio's Q3 revenue rose 20% to $1.56 billion, but Q4 organic growth guidance fell to 11% to 12% and RPO declined 28%.

TWLO $34B
Cestrian Capital Research 3 clicks

Marvellous Value Destruction

Marvell’s proposed Lumentum deal risks alienating Cloudlight customers and losing engineering talent, despite limited optical integration…

LITE $59B
Irrational Analysis 2 clicks
BSP · short

Bending Spoons Spa

Bending Spoons is a software and digital-assets holding company that has completed more than 50 acquisitions since 2013.

BSP $27B
Value Investors Club 1 click

FTAI Aviation Update, Part Two

FTAI Aviation’s $234 million Jereh JV deposit funds Power inventory, while customer concentration, lower cash guidance and pending U.S.

FTAI $20B
CV's Substack 5 clicks

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