Substack

Bearstone

Everything we have picked from this writer, newest first.

QXO applies Brad Jacobs’s consolidation playbook to fragmented building materials, anchored by its TopBuild acquisition and a strategy of…

Bearstone 45h ago

Build-A-Bear Workshop, the toy retailer.

Bearstone Sep 3

Molina Health is revisited.

Bearstone Jul 23

AI capex rests on coding-centric benchmarks, cheap-model commoditization and circular financing: OpenAI’s $60 billion annual Oracle…

Bearstone Jul 16

JD, Alibaba and Douyin are assessed for their competitive threat to PDD, with a specific investment stance on JD.

Bearstone Jul 7

PDD uses group buying and daily app rewards to turn shoppers into distributors, then monetizes merchant attention through advertising and…

Bearstone Jul 3

Adobe’s licensed vector data, corporate workflow integration and compliance framework could give it an edge in precision AI as frontier…

Bearstone Jun 18

Adobe’s bear case is that generative AI breaks new-user habit formation, leaving its professional base sticky but aging as growth slows and…

Bearstone Jun 9

Natera's long-term future is weighed against its current valuation.

Bearstone May 29

Warren Buffett's discipline built Berkshire's 22.2% book-value compounding but excluded high-growth winners such as Amazon, Netflix, Google…

Bearstone May 20

MercadoLibre combines Latin American e-commerce, proprietary logistics and Mercado Pago’s payments data to build a consumer lending…

Bearstone May 15