Substack

Bristlemoon Capital

Everything we have picked from this writer, newest first.

Macy’s and Kohl’s face renewed short cases as their recent reratings ignore fading store-refresh gains, credit-card earnings exposure and…

Bristlemoon Capital Aug 13

Alphabet’s $132 billion AI capex produced an estimated 49% post-tax incremental ROIC once only in-service assets are counted, versus a…

Bristlemoon Capital Jul 28

Infineon’s power semiconductors stand to benefit from AI data centers shifting to 800VDC power delivery, though its sharp rerating to…

Bristlemoon Capital Jun 4

AerCap sells aircraft at 2x book value and repurchases stock near 1x book, cutting shares outstanding 31% in three years.

Bristlemoon Capital Mar 2

Adobe’s sub-20x forward GAAP P/E reflects AI disruption fears, with the investment case hinging on whether Digital Media’s creative…

Bristlemoon Capital Feb 6

TransDigm built a $72 billion aerospace-components consolidator through 90 acquisitions, delivering 23.1% annualized stock returns since…

Bristlemoon Capital Dec 18

Hemnet’s Swedish listings monopoly has fallen from SEK420 to about SEK160 as growth slows, leaving investors to judge whether its 90% share…

Bristlemoon Capital Dec 8

Fair Isaac raised FICO Score royalties from roughly $0.50–$0.60 in 2022 to $4.95 in 2025, drawing regulatory scrutiny over its…

Bristlemoon Capital Sep 11

MercadoLibre’s Daniel Wu discusses MELI’s Latin American e-commerce operations, fintech business model, growth opportunities and risks on…

Bristlemoon Capital Sep 5

Meta’s 22% Q2 revenue growth and AI-driven ad engagement support its core business, while planned 2026 capex of roughly $100 billion…

Bristlemoon Capital Aug 1