Deep dives on single companies, plus notes on bonds and the economy. Company figures are pulled from SEC filings automatically, so the numbers stay current between reports.
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Questions answered from 10-K and 10-Q figures, with sources.
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Checked every weekday against the latest close and SEC filings: reports whose rating would change at today’s price, whose company has filed results since, or whose price has moved 15% or more. Values and ratings change only when a report is revised.
Growth, margins, cash, debt, a bear-to-bull valuation and peers, with annual 10-K and quarterly 10-Q figures, written from its filings in seconds.
Every stock in the portfolio, valued with the same method. Written October 20, 2026 and refreshed after each quarter’s results.
Orders tripled on missile awards, but a lower 2028 cash target. Value $402 against $278.
Read the Report →Power and cooling for AI data centers, sales up 61% and orders doubled. Value $131 against $243.
Read the Report →The largest U.S. water utility, merging with Essential. Value $100 against $140.
Read the Report →AWS growing 39% while capex turns free cash flow negative. Value $155 against $244.
Read the Report →Ads up 26%, free cash flow turned negative by AI spending. Value $531 against $698.
Read the Report →The most profitable big bank, valued on return on equity. Value $284 against $335.
Read the Report →A record order book valued on its own 2028 targets. Value $465 against $878.
Read the Report →The AI chip leader, priced for a long boom. Value $166 against $216.
Read the Report →A turnaround with record backlog and positive cash flow. Value $197 against $168.
Read the Report →Rockets, Starlink and now an AI cloud, revenue up 161%. Value $123 against $163.
Read the Report →Moon landers and small rockets, down 70% from its high. Value $18 against $17.
Read the Report →Companies on the watchlist that are not listed yet. Values are for the whole company, set against the latest private funding round.
The maker of Claude, growing more than tenfold a year ahead of a November IPO. Model value $847B against $965B.
Read the Report →ChatGPT’s billion weekly users, and hundreds of billions to spend before profit. Model value $790B against $852B.
Read the Report →Autonomous weapons growing like software, valued like it too. Model value $20B against $90B.
Read the Report →The Terminal and its newsroom: a cash machine that has never published its numbers. Model value $62B against $80B.
Read the Report →Azure past $100 billion a year, a quarter of OpenAI, and a $257 billion capex bill. Value $377 against $521.
Read the Report →Cloud up 82%, Search still growing, and new shares sold to fund the build. Value $245 against $324.
Read the Report →The maker of almost every advanced chip, priced for its own forecast. Value $411 against $412 an ADR.
Read the Report →Custom AI chips for Google, Anthropic and OpenAI, and the question of who pays. Value $358 against $323.
Read the Report →Raytheon missiles, Pratt engines and a $340 billion backlog, against Anduril’s cheaper weapons. Value $146 against $195.
Read the Report →Nuclear submarines and Gulfstreams, the prime least exposed to Anduril. Value $336 against $351.
Read the Report →Margins recovering after the 2025 collapse; the price believes only part of it. Value $516 against $425.
Read the Report →Through the Stelara cliff, with a talc settlement proposed. Value $194 against $268.
Read the Report →The best toll road in finance, at a record price. Value $291 against $414.
Read the Report →Record Permian output and $110 Brent; what oil price the shares assume. Value $89 against $178.
Read the Report →The largest U.S. nuclear fleet, now with Calpine’s gas plants. Value $185 against $255.
Read the Report →A record $292 billion backlog, and where Anduril can and can’t compete. Value $647 against $590.
Read the Report →The B-21 and Sentinel, and a private Anduril now worth more. Value $564 against $553.
Read the Report →Engines and turbines for AI data centers, inside a cyclical machinery company. Value $442 against $704.
Read the Report →The only maker of EUV machines, with demand ahead of supply to 2028. Value $1,081 against $1,561.
Read the Report →The HBM leader at a 76% margin, valued across the memory cycle. Value $111 against $132 an ADR.
Read the Report →AI software growing 93% at a 47% margin, priced for the bull case. Value $87 against $202.
Read the Report →Data center up 107% and Helios racks shipping, after a 140% run. Value $353 against $553.
Read the Report →An 87% gross margin in the tightest memory market ever, valued across the cycle. Value $622 against $914.
Read the Report →Pure flash: from losses to an 85% margin in a year. Value $636 against $1,378.
Read the Report →TASERs, body cameras and AI translation, down half from its peak. Value $314 against $396.
Read the Report →Drones, hypersonics and engines: the listed company closest to Anduril. Value $24 against $39.
Read the Report →FIN 370 coursework: an excellent business trading above its $831.50 cash-flow value.
Read the Report →
What the shape of the Treasury curve says about growth, inflation and the Fed.
Read the Note →How much a bond moves when rates move, worked through with real Treasuries.
Read the Note →What investors demand to lend to riskier companies, and what that signals.
Read the Note →CPI, core CPI and core PCE: why they differ and which one the Fed watches.
Read the Note →Where the fed funds rate is, where markets expect it to go, and why.
Read the Note →Growth, federal funds and the local tax picture for investors on the island.
Read the Note →Size, income, growth, inflation and debt against Chile, Mexico, Brazil, Colombia, Peru, Argentina and El Salvador, all in dollars.
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