Investing in the Age of AI: Too Late or only the Beginning?
AI beneficiaries Nvidia, TSMC, Alphabet, Amazon and SK hynix delivered sharply higher earnings alongside share gains, keeping forward…
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Modern Value Investing
Everything we have picked from this writer, newest first.
2026 Q2 Earnings Updates: WeightWatchers, Shift4, Bumble
Bumble fell, Shift4 dropped 23% and WeightWatchers rose 18% after earnings, prompting added Shift4 exposure and a sharp WeightWatchers…
Salesforce Can Lose the Interface and Still Win
Salesforce's 8.62x forward cash flow valuation discounts AI seat cannibalization, while Agentforce, Data 360 and MuleSoft aim to retain…
The Cheapest Toll Road in the AI Economy?
A U.S. last-mile telecom network trades at 3.9x trailing earnings and 5.7x TEV/EBITDA, with AI traffic growth, capex normalization, merger…
NVIDIA: The AI Factory Is Still Undervalued
NVIDIA reported $81.6 billion revenue, $75 billion data-center sales and $49 billion free cash flow, then weighs custom chips, hyperscalers…
Bumble Q1: A Hated Stock, a Product Rebuild, and a 30% Owner Earnings Yield
Bumble’s Q1 revenue fell 14% to $212.4 million as paying users dropped 21%, while marketing cuts lifted EBITDA margin to 39% ahead of a Q4…
Booking Holdings: A 15% EPS Compounder at 17x Earnings
Booking Holdings generated $9.1 billion in 2025 free cash flow and targets 15% annual EPS growth, trading at 16.8x forward 2026 earnings.
Performance & Portfolio Update: Q1 2026
Portfolio update reports a 20.5% Q1 loss, led by WeightWatchers’ 61% decline, while adding Bumble, Oscar and Shift4.
Shift4 Payments: A Fintech Compounder Trading Like a Melting Ice Cube
Shift4 Payments earns 50 to 60 basis points on SkyTab volume while acquiring merchant networks, driving 39% annual GRLNF growth since 2021…
The Skills AI Can’t Replace
Duolingo is presented as an AI-resilient opportunity after SaaS stocks sold off on fears that coding tools will compress software moats,…
FDA vs. HIMS: Why the Oral “Wegovy Copy” Crackdown Changes the GLP-1 Game
FDA’s crackdown on HIMS’s $49 compounded oral Wegovy copy reshapes GLP-1 competition after Novo Nordisk forecast 2026 sales and profit…
Portfolio Update - January 2026
Portfolio update exits The Trade Desk, QXO and Park Hotels, then adds Tencent at a 35% discount, SoftBank for AI exposure and HelloFresh at…
