New Ask Claude or ChatGPT about any stock, using Bullpen. Bullpen in Claude or ChatGPT. 7 days free
Bullpen.News From Edwin Dorsey
Get Daily Recap Feedback

Sunday, November 15, 2026

Back to the front page

Google: DCF Analysis

Alphabet’s DCF sets a $384 base-case target from $295.77, betting Google Cloud and AI offset rising infrastructure spending and slower Search monetisation.

GOOGL $3.6T
Hated Moats

From X

@StableBread

Fajasy on X

Six stocks I’m still following filed Q3 numbers: → $QXO: Operating cash flow was only ~$1M in Q3, down from $213M a year ago. → Boost Run $BRUN: Says it has secured $600M of non-dilutive project financing, but a Georgia delay leaves year-end ARR near my bear case. → Reviva $RVPH: Valued at 26.5% of its cash, but needs $50-55M for its second Phase 3 trial and FDA filing. → DigiPowerX $DGXX: ~$30M short of its ~$350M 2027 capex plan, even counting the $200M loan it hasn’t closed yet. → Agility Robotics $AGLT: Down 36.1% from its first-day close, with a little over two years of cash. → FORT Robotics’ SPAC $NTWO: 82% redeemed, and its price implies 36.7x FORT’s TTM revenue. So did the quarter change my call on any of the six? That’s what I answer in my new Q3 update, including whether I’m buying, selling, or holding each name.
@BarbarianCap

Barbarian Capital on X

$EPOL
@StableBread

Fajasy on X

The cash flow statement adds share-based compensation back to operating cash flow, since it's a non-cash expense: the company paid its employees in shares, not cash. Over the 12 months through October 2022, Intuit $INTU had $3.81 billion of free cash flow, a 3.5% yield on its $109 billion market value. Move its $1.45 billion of share-based compensation to financing activities, and the yield falls to 2.2%. That's roughly $2.20 of free cash flow per year for every $100 of Intuit stock, not $3.50.
@calvinblissett

Calvin Blissett on X

Is Freedom the one subsidizing itself and financial ecosystem through that whole share issuance mechanism nuance? Given that can’t they not really afford to burn money on an uncertain payback in marketplace? This could be the “dagger” toppling them and their pyramaid scheme esque structure which would benefit $KSPI. This is disconfirming evidence so in the spirit of Darwin I will be monitoring this to see how it plays out. I will try and gather the specifics on what I’m alluding to and come back to this

Investor Letters

All letters

Q3 Earnings Updates

Q3 updates cover Crocs, Entravision and Fiserv beats, coal and oil weakness, and Xerox’s sharp decline, testing the underlying cases for…

CROX $7.5BEVC $874M
Hidden Rock Capital's Newsletter 3 clicks
SPHR · long

Sphere Entertainment CO

Sphere Entertainment is shifting from construction and startup spending to a high-margin, cash-generative venue-operator model, with…

SPHR $4.6B
Value Investors Club 4 clicks

Apple and a Hacker’s Future

Apple’s walled garden feels limiting as AI increases the value of open systems and hacker-friendly tools.

AAPL $5.2T
Stratechery by Ben Thompson – On the business, strategy, and impact of technology.

British American Tobacco: Harvest

British American Tobacco’s U.S. reset revives combustibles and rebuilds its nicotine-pouch portfolio after legacy-brand writedowns and Velo…

BTI $133B
Invariant 6 clicks

Practical Parametric Yield

Cerebras’s WSE-3 faces parametric-yield constraints that could restrict supply, making power and clock-speed tradeoffs central to its next…

CBRS $26B
Irrational Analysis 3 clicks

Publications we follow

Every publication on this site, hand-picked.

130 publications

Newsletters 110

YouTube 4

Blogs 15

Seeking Alpha 89 of 295

Nominate a publication

X accounts we follow

Every account on this site, hand-picked.

91 accounts
Nominate an account

Investor letters we follow

376 firms

Sectors

Ordered by how often our editor reaches for them.