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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 $94BBX $151B
Latticework by MOI Global 2 clicks

From X

@convequity

Convequity on X

Been thinking about the $ANT Anthropic IPO and I keep coming back to a couple of things that don't quite add up for me. Anthropic works hard to come across as a company for everyone else. It set up the Long-Term Benefit Trust so the mission, not money, elects the board, and the founders are giving 20% of their shares away to the public. Then the IPO. The book is reportedly ~6x oversubscribed on up to $64B, yet $26B goes to suppliers: Google, Nvidia, AMD, Broadcom, Micron, Microsoft, TSMC. With that much public demand, that feels inconsistent. It sits next to the other contradiction: leadership warns that frontier AI is dangerous without regulation, yet keeps racing the frontier. So why the suppliers? My guess: Anthropic isn't a consumer-facing company. Maybe they worry retail holders would be fickle and sell at the first wobble, while suppliers give them a steady, long-term shareholder base. That's the opposite of $TSLA Tesla, where a diehard retail base helped the company weather storm after storm. Apple too, to a degree. Those are consumer brands, though. The flip side is $PLTR Palantir. Not consumer-facing at all, and it still built a diehard retail following that stuck with it through plenty of storms. Anthropic says it's built for everyone, then hands a big slice of its IPO to its suppliers. It warns about the AI race, then keeps racing. That's the mixed messaging I can't get past.
@aleabitoreddit

Serenity on X

The people have spoken. In the largest large-scale poll of 22,965 respondents: 19,750 supported @JensenHuang remaining CEO of $NVDA, compared with just 1,840 opposing him. Among respondents expressing a position Jensen received a: - 91.5% support vs. 8.5% opposition ratio (10.8 to 1) The results stands in contrast to prominent media commentary calling for and celebrating his departure. Nvidia’s board should reconsider whether removing Jensen Huang was in the best interests of its shareholders and American leadership in AI

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QXO Inc Earnings Update: Q3 2026

QXO's Q3 sales rose 79% to $4.9 billion after TopBuild and Kodiak acquisitions, while acquisition debt lifted interest expense to $163…

QXO $14B
SixSigmaCapital: Navigating the Financial Markets 2 clicks

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.

QURE $1.7B
Triple S Special Situations Investing 2 clicks

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…

FG $3.2B
Mispriced Assets 3 clicks
TNLIF · long

Trainline PLC

Trainline’s buyback and high free-cash-flow yield support a long thesis.

TNLIF $849M
Value Investors Club 3 clicks

AMD Q3 FY26, Annotated

AMD's Q3 revenue rose 45% to $13.4 billion as data center reached $8.5 billion, 64% of sales, driven by EPYC and Instinct ramps.

AMD $907B
Chipstrat 2 clicks

GREAT DEC-TECTIVE WORK

Diversified Energy reported $255.6 million of “true” nine-month free cash flow, while its $1.8 billion Birch acquisition would shift…

DEC $974M
The Oak Bloke 4 clicks

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