Wednesday, August 26, 2026

KMI 2026-08-26

Kinder Morgan: The Consolidation Is An Opportunity Before The Next Leg Higher

KMI $70B

SA Steven Fiorillo Aug 26 3 clicks

CBRS 2026-08-26

Sizing Up Cerebras Systems: Why Its Latency Moat Makes It A Buy For Aggressive Growth Investors

CBRS $43B

SA Star Investments Aug 26 4 clicks

Big Tech Off-Balance Sheet Concerns

Big Tech’s $3 trillion AI commitments are disclosed and largely long-dated, with nearly 60% of Amazon’s $650 billion commitments falling…

Stripe’s “Singularity” and the Divergence from Adyen

Stripe’s net revenue rose 41% in 1H 2026 versus Adyen’s 21% FX-adjusted growth, fueled by AI-native startups and acquisitions including…

$ELAL: El Al is a wartime monopoly at 2x EBITDA. Is that a trap? | ASB Partners

El Al trades near 2x EBITDA after wartime near-monopoly profits, with $1.3 billion of net cash and owned aircraft weighed against…

CCC Is in the Middle of the Wreckage

CCC, the dominant auto physical-damage claims estimator, connects 27 of the top 30 insurers with 31,000 repair shops as takeout rumors…

NCLH or her grandma Saga?

Norwegian Cruise Line’s $15 billion debt and 2026-27 capex delay deleveraging, despite fuel-efficient new ships and stronger projected 2028…

Shitcos, Griftcos, and alignment versus enrichment at $IREN

IREN awarded each co-CEO roughly 9 million RSUs, about 2.5% of shares and $400 million, in exchange for no further equity grants until…

$NU: is Nubank Capital One in 1994 or Capital One in 2006? | Vanshap Capital

Nubank's 140 million customers, 20% efficiency ratio and 30% ROE frame whether its high-teens P/E reflects a scalable fintech or a maturing…

The $1.5 Trillion of Hidden Debt Fueling the AI Boom | Robin Wigglesworth of FT Alphaville

Hyperscalers’ off-balance-sheet lease and purchase obligations rose from roughly $1 trillion to $1.5 trillion, turning the AI buildout into…

WhatsApp's New Era

WhatsApp named CRED founder Kunal Shah to replace Will Cathcart after Meta bought a 20% CRED stake for $900 million, signaling a push to…

Defending the Enterprise Castle from the Model Layer

Microsoft urges enterprises to keep AI memory, evaluations and orchestration inside their tenant boundary, making frontier models…

Meta On the Offense!

Meta’s Muse Spark 1.1 targets agentic enterprise work, backed by employee workflow data and 3,000 engineers building reinforcement-learning…

The Great Rotation: Long Live the Old Economy — Weekly Treasure Hunt #04

Vaca Muerta’s $36–45-per-barrel breakevens, Milei reforms and $17 billion infrastructure buildout underpin the bullish case for Vista…

My Biggest Position: A Monopoly Priced for Failure

A former value-investor darling, down 50%, pairs a monopoly with a recurring-revenue razor-and-blade business; debt paydown, margin…

Meta: 2Q26 Business Update

Meta's 2Q26 revenue rose 27%, but capex, depreciation and nascent cloud and AI ambitions raise margin and return risks as it maximizes…

Adobe Business History

Adobe built PostScript, Photoshop and PDF into desktop-publishing standards, using free Acrobat Reader and integrated Creative Suite tools…

Adobe Deep Dive

Adobe trades at 14x earnings after a 65% decline, with AI, Canva and Figma threatening subscriptions, customer acquisition and…

Adobe Expert Insight Interview (No Paywall)

Adobe trades at 11x earnings despite $24.5 billion of revenue, 37% operating margins and 12% profit growth; a former data-science head…

Meta: 1Q26 Business Update

Meta’s Q1 2026 revenue rose 33% as ad impressions gained 19%, while AI-driven ranking and targeting lifted engagement and conversion;…