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Equity Research Database
Institutional Investment Pitches
Explore thousands of hedge fund pitches, high-conviction equity research memos, and portfolio manager commentary extracted from quarterly letters.
Explore thousands of hedge fund pitches, high-conviction equity research memos, and portfolio manager commentary extracted from quarterly letters.
Lansing Street Advisors' Q2 2026 letter argues that while the AI buildout represents the biggest known unknown in 25 years, the current market environment is not a repeat of the 1999-2000 internet bubble. AI spending now...
— Matt Topley
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Other investors who've written on MicroStrategy Incorporated
The manager argues that MicroStrategy's premium to its net asset value is unsustainable and driven by institutional capital flows bypassing regulatory restrictions on holding digital assets directly. To exploit this...
The manager critiques MicroStrategy's capital structure maneuvers, specifically its issuance of zero-coupon convertible debt to acquire Bitcoin. They view this...
The manager categorizes MicroStrategy as a highly speculative, levered bubble asset linked directly to Bitcoin's momentum. After experiencing massive...