Long-form equity research memos on small and mid-cap space, semiconductor, hardware and defense technology stocks, built from primary filings, federal award records and orbital data. Each piece includes valuation context, bull and bear cases, and dated tripwires to watch.
Website: https://research.shawarmacapital.net
A finance-focused newsletter offering investment research, with issues analysing SpaceX's AI compute guidance, Microsoft's earnings tied to OpenAI, and Meta's GEM ad-ranking model. Much of the substance sits behind a paywall, while free excerpts show a clear analytical voice with specific figures and a personal point of view.
BioCompounding is an investment-research newsletter covering biotech, medtech and pharma companies and sector economics, such as generics versus biosimilars and company deep-dives on earnings and business models. Readers get explanations of industry mechanics and equity analysis of specific firms like Intuitive Surgical and Edwards Lifesciences.
In-depth equity research on under-the-radar quality compounders, built around ROIIC, reinvestment runway and valuation. Readers get company deep dives, updated IRR/CAGR ranges for a portfolio, and explanations of the valuation framework behind them.
Firm Returns publishes detailed investment research reports on individual companies it considers undervalued, such as a PepsiCo report covering segments, margins and activist history. It also posts brief portfolio change updates.
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