Churchill Downs: Doubling Down
Churchill Downs is selling regional casinos to focus on horse racing and historical racing machines, where Exacta software and racetrack…
Substack
Eagle Point Capital
Everything we have picked from this writer, newest first.
Appearance The Stansberry Investor Hour Podcast
The Stansberry Investor Hour features a discussion of Constellation Software’s AI prospects and Natural Resource Partners.
Three Tempting Ideas with Major Caveats
Molson Coors trades at 6.2x free cash flow and offers a roughly 15% shareholder yield, but declining beer volumes could make it a value…
Brown & Brown
Brown & Brown compounded revenue 14.4% annually since 1998 through more than 650 acquisitions, capped by its nearly $10 billion Accession…
Updates on Natural Resource Partners, Cencora, and McKesson
Natural Resource Partners invested $39.2 million in Sisecam Wyoming as soda ash prices fell below production costs, helping cut the JV’s…
Sirius XM (An Excerpt From Our Recent Letter)
Sirius XM grew 2025 free cash flow 24% to $1.26 billion as capex peaked, while companion plans revived subscriber additions and debt fell…
Future-proofing A Portfolio (An Excerpt From Our Recent Letter)
Eagle Point favors McKesson, AutoZone and other physical-network businesses with durable demand, scale moats and lower disruption risk than…
Pershing Square U.S. and Pershing Square Inc. Dual Listings
Pershing Square plans dual IPOs of PSUS and management company PSI, granting 20 PSI shares for every 100 PSUS shares to counter closed-end…
Berkshire Hathaway: Willing and Abel
Berkshire Hathaway CEO Greg Abel will spend his after-tax $25 million salary buying Berkshire shares as he reshapes the conglomerate’s…
