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Airbnb: Still Trailing Booking, And A Surprise Turn To Social
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Airbnb: Still Trailing Booking, And A Surprise Turn To Social

YR Research5.13K FollowersFollow5ShareSavePlay(8min)CommentsSummaryAirbnb remains overvalued versus peers, with a reiterated "Sell" rating due to slowing growth and declining margins.ABNB's pivot toward social connections, experiences, and AI raises concerns about margin deterioration and low probability of strategic success.Recent quarters saw single-digit revenue growth, EBITDA margin contraction, and rising operational expenses outpacing revenue growth.Despite lagging Booking.com and Expedia closing the gap, ABNB trades at 27x next year's earnings, a premium the fundamentals do not justify. onurdongel/iStock via Getty Images Airbnb (ABNB) has become such a well-known brand that when people hear Airbnb, most of them don't think about the company. Their mind immediately thinks about vacation, staying somewhere unfamiliar, unique, and authentic, and a trustworthy travel experience without a hotel experience. This article was written byYR Research5.13K FollowersFollowI aim to invest in companies with perfect qualitative attributes, buy them at an attractive price based on fundamentals, and hold them forever. I hope to publish articles covering such companies approximately 3 times per week, with extensive quarterly follow-ups and constant updates.I manage a concentrated portfolio targeted at avoiding losers and maximizing exposure to big winners. This means that often I'll rate great companies at a 'Hold' because their growth opportunity is below my threshold, or their downside risk is too high.Analyst’s Disclosure:I/we have a beneficial long position in the shares of V either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being

2026 Market Outlook: My Big Bet On Real Assets As AI Optimism Peaks
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2026 Market Outlook: My Big Bet On Real Assets As AI Optimism Peaks

Samuel SmithInvesting GroupFollow5ShareSavePlay(12min)Comment(1)SummaryA major risk is quietly building beneath the market’s strongest narrative.Several headwinds are colliding at the worst possible time.My portfolio is positioned very differently than most heading into 2026. Getty Images 2026 Market Outlook: The S&P 500 (SPX) has been on a roll over the past several years, led primarily by the boom in optimism over AI, with stocks like Nvidia (NVDA), Meta Platforms (This article was written bySamuel Smith46.4K FollowersFollowSamuel Smith has a diverse background that includes being lead analyst and Vice President at several highly regarded dividend stock research firms and running his own dividend investing YouTube channel. He is a Professional Engineer and Project Management Professional and holds a B.S. in Civil Engineering & Mathematics from the United States Military Academy at West Point and has a Masters in Engineering from Texas A&M with a focus on applied mathematics and machine learning.Samuel leads the High Yield Investor investing group. Samuel teams up with Jussi Askola and Paul R. Drake where they focus on finding the right balance between safety, growth, yield, and value. High Yield Investor offers real-money core, retirement, and international portfolios. The service also features regular trade alerts, educational content, and an active chat room of like-minded investors. Perspective: "Do not store up for yourselves treasures on earth, where moth and rust destroy, and where thieves break in and steal. But store up for yourselves treasures in heaven, where neither moth nor rust destroys, and where thieves do not break in or steal; for where your treasure is, there your heart will be also ... For what will it profit a man if he gains the whole world and forfeits his soul?" ~ Jesus (Matthew 6:19-21; 16:26)Learn moreAnalyst’s Disclosure:I/we have a beneficial long position in the shares of EPD, GLD, SLV either through stock ownership, options

Everyone Hates REITs - A Contrarian Opportunity
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Everyone Hates REITs - A Contrarian Opportunity

Hoya CapitalInvesting Group LeaderFollow5ShareSavePlay(32min)CommentsSummaryREITs endured a brutal three-plus-year stretch since March 2022, underperforming the S&P 500 by an unprecedented 70 percentage points, far worse than the Global Financial Crisis.Extreme underperformance has left REITs historically cheap despite solid property-level fundamentals, but this valuation discount carries a cost: elevated capital costs, suppressed transaction activity, and limited external growth opportunities.Depressed public-market valuations have triggered a pronounced “REIT exodus,” with 40 REITs acquired, liquidated, or seeking sales since 2022, while new REIT formation has collapsed to a fraction of norms.Looking into 2026, an inevitably dovish Fed, easing inflation, and limited new supply growth should improve REIT market sentiment, accelerating deal flow, restoring valuations, and reviving some IPOs.Select REITs demonstrate that the public REIT model still works and can be the most powerful real estate structure when conditions are right. Welltower has used premium valuations and equity access to drive a self-reinforcing cycle of accretive growth and outsized market-cap expansion. francois-roux/iStock via Getty Images State Of The REIT Nation In our State of REIT Nation report, we analyze the recently released NAREIT T-Tracker data. Last month, we published our REIT Earnings Recap, which analyzed Q3 results on a company-by-company level, but this reportThis article was written byHoya Capital36.26K FollowersFollowAlex Pettee is President and Director of Research and ETFs at Hoya Capital. Hoya manages institutional and individual portfolios of publicly traded real estate securities.Alex leads the investing group iREIT®+HOYA Capital. The service features a team of analysts focusing on real income-producing asset classes that offer the opportunity for reliable income, diversification, and inflation hedging. Learn More.Analyst’s Disclosure:I/we have a beneficial long position

Threads adds new communities, tests badges for highly engaged members
technology

Threads adds new communities, tests badges for highly engaged members

Meta’s social network Threads is expanding the number of topics available through its newer communities feature, the company announced on Monday. This expansion might nudge people to use communities less on Reddit and X. The platform initially launched over 100 communities in October, including those dedicated to basketball, television, K-pop, books, and more, to better compete with other social networks. With today’s expansion, Threads now has more than 200 communities, with additions that include team-specific spaces like Lakers Threads, Knicks Threads, and Spurs Threads. The company is testing flairs within the community as well, which is also very common on Reddit. This feature lets you add a customizable label underneath your username. For instance, in the NBA community, you can show off what team you support using flair, or in the books community, you can indicate if you’re an author. Image Credits: ThreadsImage Credits:Meta Threads is also testing a “Champion” badge to reward members who are highly engaged in a community. The company said that it is giving badges to only a limited number of people who are highly followed in the community and who converse actively. Image Credits: ThreadsImage Credits:Meta The social platform, which competes with Elon Musk’s X and startups like Bluesky, crossed 400 million users in August, two years after its launch. The company also noted this fall that more than 150 million people now visit the site daily. To date, Threads has been focusing on engaging and retaining users with features like DMs, Group chats, and ephemeral posts, and other additions. Topics Apps, Meta, Social, social, social network, Threads Ivan Mehta Ivan covers global consumer tech developments at TechCrunch. He is based out of India and has previously worked at publications including Huffington Post and The Next Web. You can contact or verify outreach from Ivan by emailing im@ivanmehta.com or via encrypted message at ivan.42 on Signal. View Bio Dates TBD L

Select Water Solutions, Inc. (WTTR) Discusses Transition to Water Infrastructure Focus and Market Positioning Transcript
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Select Water Solutions, Inc. (WTTR) Discusses Transition to Water Infrastructure Focus and Market Positioning Transcript

SA Transcripts157.36K FollowersFollow5ShareSaveCommentssvg]:max-h-full [&>svg]:shrink-0 [&>svg]:grow [&>svg]:fill-current size-24 m-0">Play Earnings Callsvg]:max-h-full [&>svg]:shrink-0 [&>svg]:grow [&>svg]:fill-current mr-8 size-24">Play Earnings Call Select Water Solutions, Inc. (WTTR) Discusses Transition to Water Infrastructure Focus and Market Positioning December 10, 2025 7:00 PM EST Company Participants John Schmitz - President, CEO & ChairmanChris George - Executive VP & CFOMichael Lyons - Executive VP, Chief Strategy Officer & CTO Conference Call Participants Jeffrey Robertson - Water Tower Research LLC Presentation Jeffrey RobertsonWater Tower Research LLC Thank you for joining us today for a fireside chat with CEO, John Schmitz; CFO, Chris George; Chief Strategy and Technology Officer, Mike Lyons; and Vice President, Garrett Williams from Select Water Solutions. I am Jeff Robertson, Managing Director for Natural Resources at Water Tower Research. Before we begin, I would like to remind participants that our discussion could include forward-looking statements as of today, December 11, 2025. Select's disclosures regarding such statements can be found under the Investors tab of its corporate homepage. If anyone is not familiar, Select Water Solutions is a leading provider of sustainable full life cycle water solutions to the energy industry and is an emerging water infrastructure solutions provider to municipal and industrial markets. These solutions are supported by the company's critical water infrastructure assets, including connected networks of pipelines, recycling, storage, disposal and solid treatment facilities and its water services and chemical technologies segments. Select owns an expansive infrastructure assets with high barriers to entry in every major producing -- U.S. producing basin. The Water Infrastructure segment is the company's highest margin and fastest-growing segment. Select's scale and solutions pr

Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München (MURGY) Analyst/Investor Day Transcript
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Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München (MURGY) Analyst/Investor Day Transcript

SA Transcripts157.36K FollowersFollow5ShareSaveCommentssvg]:max-h-full [&>svg]:shrink-0 [&>svg]:grow [&>svg]:fill-current size-24 m-0">Play Earnings Callsvg]:max-h-full [&>svg]:shrink-0 [&>svg]:grow [&>svg]:fill-current mr-8 size-24">Play Earnings Call Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München (MURGY) Analyst/Investor Day December 11, 2025 4:00 AM EST Company Participants Christian Becker-Hussong - Head of Investor & Rating Agency RelationsJoachim Wenning - Chairman of Management BoardChristoph Jurecka - CFO & Member of Management BoardMarkus Rieß - Head of Economics, Sustainability & Public Affairs and Member of Management BoardThomas Blunck - Member of Management Board Conference Call Participants Shanti Kang - BofA Securities, Research DivisionIvan Bokhmat - Barclays Bank PLC, Research DivisionKamran Hossain - JPMorgan Chase & Co, Research DivisionWilliam Hardcastle - UBS Investment Bank, Research DivisionIain Pearce - BNP Paribas, Research DivisionDarius Satkauskas - Keefe, Bruyette, & Woods, Inc., Research DivisionAndrew Baker - Goldman Sachs Group, Inc., Research Division Presentation Christian Becker-HussongHead of Investor & Rating Agency Relations Ladies and gentlemen, a very good morning to everyone, and a warm welcome to Munich Re's Investor Day on our new Strategic and Financial Ambition 2030. My name is Christian Becker-Hussong, and I'm Head of Investor Relations and Rating Agency Relations. And it is my pleasure to introduce to you today's speakers, which I will do according to the agenda for today's presentations. Joachim Wenning will kick it off with the CEO perspective, followed by our CFO, Christoph Jurecka, who will introduce to you the group's financials. Then we will turn to the business fields, starting with ERGO and its CEO, Markus Rieß, before Thomas Blunck, CEO of Reinsurance, will conclude with his presentation. Afterwards, we will go right into Q&A without any

Cypherpunk Technologies Inc. (CYPH) Leap Therapeutics, Inc. - Shareholder/Analyst Call Prepared Remarks Transcript
investment

Cypherpunk Technologies Inc. (CYPH) Leap Therapeutics, Inc. - Shareholder/Analyst Call Prepared Remarks Transcript

SA Transcripts157.36K FollowersFollow5ShareSaveComments Cypherpunk Technologies Inc. (CYPH) Leap Therapeutics, Inc. - Shareholder/Analyst Call December 15, 2025 11:00 AM EST Company Participants Douglas Onsi - CFO, General Counsel, Treasurer & Secretary, President, CEO & Director Conference Call Participants Margaret Lloyd Presentation Douglas OnsiCFO, General Counsel, Treasurer & Secretary, President, CEO & Director Good morning, ladies and gentlemen. I'm Douglas Onsi, President and Chief Executive Officer of Cypherpunk Technologies, Inc., formerly Leap Therapeutics, Inc. It is my pleasure to welcome all of you to our virtual Special Meeting. It is 11:00 on December 15, 2025, and in accordance with the Notice of Special Meeting of Stockholders, I call to order the Special Meeting of Stockholders of Cypherpunk Technologies. On the virtual meeting platform, each stockholder has been granted access to an agenda and rules of conduct for the meeting. We will conduct the meeting in accordance with the agenda and rules of conduct. Any questions posed will be addressed following the conclusion of the meeting. The items of business before the meeting are: A proposal to amend the company's Certificate of Incorporation to increase the total number of shares that the company may issue, from 250 million shares to 500 million of shares, of which 490 million shall be designated as common stock. A proposal to authorize our Board to amend the company's Certificate of Incorporation to effect a reverse stock split at a ratio within a range of 1:5 up to 1:20, which the Board may choose to effect within 1 year of this Special Meeting in its discretion. A proposal to adopt the new 2025 Equity Incentive Plan. A proposal to permit the company, for the purpose of complying with NASDAQ listing rules, to issue shares in excess of 19.99% of the company's outstanding common stock upon the exercise of certain warrants issued to

Loop-string-hadron Approach Defines Operator Representation for SU(3) Lattice Yang-Mills Theory’s Trivalent Vertex
quantum-computing

Loop-string-hadron Approach Defines Operator Representation for SU(3) Lattice Yang-Mills Theory’s Trivalent Vertex

Understanding the strong force that binds quarks into protons and neutrons remains a central challenge in physics, and researchers continually seek more efficient ways to model this complex interaction. Saurabh V. Kadam from the University of Washington, Aahiri Naskar and Indrakshi Raychowdhury from BITS-Pilani, alongside Jesse R. Stryker from Lawrence Berkeley National Laboratory, now present a significant advance in this field, developing a new mathematical framework for studying the strong force using a technique called the Loop-String-Hadron approach. Their work establishes a standalone method for calculating properties of this force, surpassing the limitations of previous approaches and offering a substantial speed advantage for complex calculations. This achievement paves the way for faster, more accurate investigations into the fundamental building blocks of matter and the forces that govern them, promising to accelerate progress in understanding chromodynamics. This work represents the second part of a series focused on the Loop-String-Hadron (LSH) approach to SU(3) lattice Yang-Mills theory. The team presents an infinite-dimensional matrix representation for arbitrary gauge-invariant operators at a trivalent vertex, establishing a standalone framework for computations that surpasses the previously used Schwinger-boson framework. Consequently, they evaluate in closed form the result of applying any gauge-invariant operator to the LSH basis states introduced in their earlier research. SU3 Gauge Field Commutation Relations Calculated Scientists have meticulously calculated a comprehensive set of commutation relations for SU(3) gauge fields, essential for understanding the strong force described by quantum chromodynamics. These calculations form the foundation for lattice gauge theory, a non-perturbative approach that discretizes spacetime to enable numerical simulations. The operators defined within this framework represent the fundamental building blocks of t

Cybersecurity Software Provider Evvolutions LeadTech Targets $11 Million U.S. IPO
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Cybersecurity Software Provider Evvolutions LeadTech Targets $11 Million U.S. IPO

Donovan JonesInvesting Group LeaderFollow5ShareSavePlay(12min)CommentsSummaryEvvolutions LeadTech Inc seeks $11.25 million in a U.S. IPO, targeting growth and working capital amid deteriorating financials.EVVO’s recent revenue growth lags the sector at 6% - 7.2%, with volatile margins, recent operating losses, and negative free cash flow.Valuation expectations are excessive: EV/EBITDA of 116x despite lumpy, project-centric unit economics and significant customer concentration risks.My recommendation is to sell (avoid) EVVO’s IPO, given worsening results, unpredictable cash flows, and a high-risk, low-float structure. NAJAnaja/iStock via Getty Images Evvolutions Is Growing Slowly, And Recent Results Are Deteriorating Evvolutions LeadTech Inc (EVVO) has filed to raise growth and working capital in an IPO of its Class A ordinary shares, according to SEC F-1 This article was written byDonovan Jones21.46K FollowersFollowDonovan Jones is an IPO research specialist with 15 years of experience identifying opportunities for high quality IPOs.He also leads the investing group IPO Edge, which offers actionable information on growth stocks through first-look IPO filings, previews on upcoming IPOs, an IPO calendar for tracking what’s on the horizon, a database of U.S. IPOs, and a guide to IPO investing to walk you through the entire IPO lifecycle - from filing to listing to quiet period and lockup expiration dates. Learn moreAnalyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is