Topic
valuation
Everything our editor has picked under this tag, best first.
ASTS short 2026-04-29 satellite Ast Spacemobile INC
AST SpaceMobile is priced for a 2026 commercial launch despite no identified path to manufacture or launch its satellite deployment target.
Value Investors Club
ai Ex-Citadel Quant on Trading the Most Asymmetric Market - Neel Somani
Neel Somani explains how grid congestion, weather and outages create asymmetric power trades, then links AI data-center demand to infrastructure…
Odds on Open
ai Top IPO Scholar on Unprecedented IPO Wave & Why IPOs Underperform the Market | Jay Ritter
Jay Ritter expects a potential 2026 wave of mega-IPOs including SpaceX, OpenAI and Anthropic, while warning that trillion-dollar AI valuations and…
The Monetary Matters Network
ai Every Layer of AI Is Losing Money!
AI developers, compute providers and many customers are losing money as adoption rises; OpenAI’s 2025 spending reached $34 billion.
The Monetary Matters Network
ai OpenAI Lost HOW Much?! 😳
OpenAI reportedly generated over $13 billion of 2025 revenue while spending $34 billion, pushing losses toward $21 billion as AI infrastructure and…
The Monetary Matters Network
ai Ed Zitron: The AI Bubble is Bleeding Cash, Here Are The Receipts
OpenAI lost $21 billion in 2025 as LLM training and inference costs outrun customer revenue, fueling claims that the AI boom is financially…
The Monetary Matters Network
data centers Two Near Net-Net Japanese Electrical Contractors at ~3.5x EV/EBIT with Industry Tailwinds
Japanese electrical contractors trade near net-net valuations at roughly 3.5x EV/EBIT, with data-center demand and Kodensha offering industry support.
Altay Capital - Mostly Value Investing
japan Takasago Tekko (5458): A Profitable ¥3.3bn Nanocap near net-net @ 7.7x ntm P/E With ¥3.8bn of Appraised Rental Real Estate and a 36,009 sqm Tokyo Factory Site Carried at ¥2m (But worth ¥8bn+)
Takasago Tekko trades at 7.7x forward earnings, with ¥3.8bn of rental real estate and a Tokyo factory site carried at ¥2m that may be worth ¥8bn or…
Altay Capital - Mostly Value Investing
activism Art Vivant (TYO 7523): Cheap Adjusted Net-Net at 11x PE Trading Below Failed ¥1,670 MBO Price as Activist Builds 40.13% Stake
Art Vivant trades below the failed ¥1,670 MBO price at 11x earnings as an activist builds a 40.13% stake.
Altay Capital - Mostly Value Investing
activism Nanocap Osaka Yuka Industry (4124): A Strategic Buyer Offered ¥3,201. An Activist Paid More to Stop the Deal. The stock trades at ¥2,746
Osaka Yuka Industry (4124) trades at ¥2,746 after a strategic buyer offered ¥3,201 per share, while an activist bought shares above the bid to oppose…
Altay Capital - Mostly Value Investing
aerospace Nippon Carbon (TYO 5302): A 120 Year Old $350 Million Japanese Carbon Manufacturer Trading at 1x Book, Net Cash, and 4.2% Dividend with a Growing Aerospace Materials Division (JV with GE / Safran)
Nippon Carbon trades at 1x book with net cash and a 4.2% dividend while expanding aerospace materials through GE/Safran joint ventures.
Altay Capital - Mostly Value Investing
cashflow Mitani Corporation (TYO: 8066): $1.2 bn Japanese Conglomerate at 2.6× EV/EBIT with 30+ Years of Profitability
Mitani Corporation trades at 2.6× EV/EBIT and 8.9× earnings, backed by net cash, a 24% lower share count since 2014, and dividends up more than…
Altay Capital - Mostly Value Investing
corporate governance Unozawa-gumi Iron Works (6396): A Profitable $23m Nanocap at 10x P/E With Real Estate in Tokyo Worth 145,000x Carrying Value (Not a Typo)
Unozawa-gumi Iron Works trades at 10x earnings despite $132 million of Tokyo real estate against a $23 million market value.
Altay Capital - Mostly Value Investing
automotive Isamu Paint (TYO 4624) - A $43m Double Net Net Automotive Paint Co Trading at 12x P/E with 30 Years of Consistent Profitability
Isamu Paint trades at ¥3,515 versus ¥8,003 of NCAV plus investments, after 30 years with only one loss-making operating quarter.
Altay Capital - Mostly Value Investing
deep value Furubayashi Shiko (TYO 3944) - A Deep Value Packaging Nanocap Trading at 9x P/E, 0.27x Book, and Well Below NCAV+Investments
Furubayashi Shiko trades at 9x earnings and 0.27x book, with under-marked land and securities supporting its value despite illiquidity and…
Altay Capital - Mostly Value Investing
deep value 3 Quick Pitches for 3 Deep Value Japanese Stocks: TOC (8841), Sankyo Kasei (8138), and Takase (9087)
TOC, Sankyo Kasei and Takase are pitched as deep-value Japanese stocks, with Sankyo Kasei trading below net cash and repurchasing 33% of shares.
Altay Capital - Mostly Value Investing
japan Tokyo Automatic Machinery (TYO 6360) - Deep Value Nanocap with Improving Shareholder Returns, 0.4x P/B, and 7.8x Forward P/E
Tokyo Automatic Machinery targets 1x book value and a 30% payout ratio, backed by ¥5,220 of NCAV plus investments per share against a ¥2,885 share…
Altay Capital - Mostly Value Investing
activism OUG Holdings (TYO 8041) - A 0.5x P/TBV Vertically Integrated Seafood Wholesaler in Osaka Trading at 5 P/E and Improving Shareholder Returns
OUG Holdings trades at 0.5x tangible book and 5x earnings, with a 1.6% dividend-on-equity policy and net-net characteristics including investments.
Altay Capital - Mostly Value Investing
acquisitions Nippon Pigment (TYO 4119) - A Deep Value Pigments Manufacturer Trading at 0.25x Book That Did a Big Acquisition and Immediately Recorded More than its Market Cap in Bargain Purchase Gain
Nippon Pigment trades at ¥3,110 versus ¥8,522 of NCAV plus investments after booking a bargain-purchase gain larger than its market cap.
Altay Capital - Mostly Value Investing
equities Perk for Paid Subs: Snapshot of Entire Cheap JP Basket (All my writeups / commentary will remain free)
Paid subscribers receive semiannual snapshots of a cheap Japanese equity basket, while all investment writeups and commentary remain free.
Altay Capital - Mostly Value Investing
activism Kinki Sharyo (TYO 7122) - A ¥10 billion Net Net Rolling Stock Manufacturer Trading at 0.3x Book Value and a 64% Discount to NCAV + Rental Real Estate
Kinki Sharyo (TYO 7122), a 105-year-old rolling-stock maker, trades at 0.3x book and 64% below NCAV plus rental real estate, with Effissimo Capital…
Altay Capital - Mostly Value Investing
earnings Tigers Polymers (TYO 4231) - Dirt Cheap Consistently Profitable Japanese Net-Net with Negative EV Trading at 0.3x P/TBV, 7.5x P/E, with U.S. Manufacturing
Tigers Polymers trades at 0.3x tangible book and 7.5x earnings, with 71% of FY2025 Q1–Q3 profits from U.S. operations.
Altay Capital - Mostly Value Investing
balance-sheet Micro-Cap Turnaround
A founder-controlled micro-cap combines a depressed valuation, fortress balance sheet and claimed 150% upside potential.
Nat Stewart - Stock Picking Newsletter
asset-sales Left for dead micro-cap with asset sale catalyst
A micro-cap trades at a small fraction of NAV as its controlling shareholder faces pressure to deleverage through asset sales.
Nat Stewart - Stock Picking Newsletter