Open research for intelligent value investors

Deep Value Evaluation: Assessing Intrinsic Value and Margin of Safety in Intel and SanDisk

In fundamental value analysis, establishing a strict margin of safety requires separating real operational recovery from inflated market expectations. As…

Roblox Corporation (RBLX): Evaluating Network Effects Against Dilution and SBC-Adjusted Owner Earnings

Roblox Corporation presents a compelling asset-light digital platform driven by a powerful creator-user network effect, yet a rigorous value-oriented…

Amazon’s Capex Dilemma: Valuation, Owner Earnings, and the AI Infrastructure Buildout

Following its Q3 earnings release, Amazon (AMZN) presents a stark valuation divide that illustrates the fundamental tension between Greenwald earnings…

Evaluating the Federal Reserve's Rate Pause: Monetary Restraint, Capital Allocation, and the Margin of Safety for Value Investors

The Federal Open Market Committee (FOMC) has maintained the federal funds target rate at 3.75% to 4.00%, pausing its rate-adjustment cycle following a…

Anthropic IPO Valuation: Dissecting the 416-Page Prospectus Through a Graham & Buffett Value Lens

This analytical article evaluates Anthropic’s 416-page S-1 prospectus filing and intrinsic equity valuation through a disciplined value-investing lens…

Deconstructing Anthropic’s S1: Capital Intensity, Decelerating Growth, and the Absence of a Margin of Safety

Anthropic’s recent S1 registration statement provides an unprecedented window into the operational economics of commercializing frontier artificial…

Capital Allocation, Governance, and Risk in the AI Safety Ecosystem: Analyzing Vitalik Buterin's Philanthropic Framework

This article analyzes the historical evolution of the Effective Altruism (EA) movement, the concentration of capital within AI safety funding networks…

Microsoft Corporation (NASDAQ: MSFT): Exceptional Enterprise Franchise Overshadowed by Surging Capital Intensity and Premium Valuation

Following the release of first-quarter results for fiscal year 2027, a deep-value evaluation of Microsoft Corporation indicates that while the company…

Alphabet’s AI Capital Allocation Pivot: Analyzing Q3 2026 Cash Flows, Infrastructure CapEx, and Intrinsic Value

In Alphabet’s Q3 2026 financial results, total top-line revenue expanded 25% year-over-year to $127.577B and Google Cloud accelerated 103% to $30.709B…

Alphabet Inc.: AI Infrastructure Expansion Meets Value Investing Realities

Alphabet Inc. represents a Quality Tier A business whose core digital distribution and growing enterprise cloud capabilities remain exceptionally strong…

Robinhood Markets (HOOD): Operational Scale Meets Valuation Limits

Robinhood Markets, Inc. has achieved a significant operational transformation, evolving from a high-churn, speculative retail order-flow broker into a…

Deep Value Analysis: PayPal Holdings (PYPL) — Valuation, Capital Allocation, and Moat Durability

PayPal Holdings, Inc. is currently executing a comprehensive operational turnaround under newly appointed executive leadership aimed at restoring…

The Price of Hyper-Growth: Analyzing Human Capital, Organizational Durability, and Intrinsic Value Through Li Jing’s E-Commerce Odyssey

China’s internet mega-platforms generated extraordinary top-line expansion over the past decade by deploying high-stakes financial incentives, aggressive…

Anthropic S-1 Analysis: Evaluating Unit Economics, Compute Commitments, and Margin of Safety

The registration statement filed by Anthropic offers value-minded investors an unprecedented look into the fundamental unit economics, balance sheet…

Evaluating Market Bubbles, Debt Crises, and Business Moats: A Value Investor's Analysis of Mark Cuban's Economic Perspectives

The contemporary market environment exhibits significant structural tensions between speculative momentum and underlying operational reality, marked by…

Microsoft’s $190 Billion AI Pivot: Analyzing the 60,000-Employee Buyout Through a Value Investor’s Lens

Microsoft has extended voluntary buyout offers to approximately 60,000 employees—representing roughly 27% of its global workforce—in a strategic effort…

Executive Order 14330, Private Equity Risks, and ASML’s Lithography Monopoly: A Value Investor’s Strategic Analysis

Executive Order 14330 seeks to allow retirement account managers to allocate capital from the $14 trillion 401(k) market into private equity (PE) at a…

Human Capital, Geopolitical Moats, and Value Creation: Analyzing Li Lu’s Vision at Columbia University

This article provides a rigorous macroeconomic and fundamental evaluation of Li Lu’s inaugural Columbia University lecture, analyzing the intersection of…

Anthropic S-1 Analysis: Explosive Growth Meets Unprecedented Compute Commitments

Anthropic, PBC filed its October 26, 2026 Form S-1 registration statement for a Nasdaq initial public offering under the ticker symbol ANT. While…

Analyzing Berkshire Hathaway’s $28 Billion Stake in Alphabet: A Value Investing Perspective

In its latest 13F filing, Berkshire Hathaway revealed a 45% expansion of its Alphabet (Google) position, building its total stake to approximately $28…

Understanding Biological vs. Digital Brains: Ilya Sutskever's Perspective on AI's Ultimate Trajectory

In his June 6, 2025 honorary degree address at the University of Toronto, AI researcher Ilya Sutskever articulated the foundational theoretical rationale…

Dissecting Asymmetric Value: Mohnish Pabrai’s Framework for High-Uncertainty, Low-Risk Investing

In his strategic interview with New Money, Mohnish Pabrai details a disciplined, institutional investment methodology designed around low-risk…

Amazon’s $220 Billion AI Infrastructure Strategy: Custom Silicon, Data Center Economics, and Enterprise AI Scale

Amazon is navigating an unprecedented $220 billion capital expenditures (capex) cycle in 2026 to expand its global artificial intelligence and cloud…

Nvidia

Deep Value Intelligence

Neutral (4.05/5) on Nvidia (NVDA), Oct 23, 2026. Price $211 vs intrinsic value $205. NVIDIA is an exceptional operating business whose recent financial…

Netflix

Deep Value Intelligence

Bullish (4.04/5) on Netflix (NFLX), Oct 23, 2026. Price $67 vs intrinsic value $138, 51.9% margin of safety. Netflix is a high-quality, increasingly…

American Express

Deep Value Intelligence

Bearish (3.73/5) on American Express (AXP), Oct 23, 2026. Price $325. American Express is a high-quality financial-services franchise with a durable…

Exxon Mobil

Deep Value Intelligence

Bearish (2.60/5) on Exxon Mobil (XOM), Oct 22, 2026. Price $178 vs intrinsic value $27. Exxon Mobil remains a strategically important integrated energy…

Alphabet

Deep Value Intelligence

Bullish (3.81/5) on Alphabet (GOOGL), Oct 22, 2026. Price $327 vs intrinsic value $286. Alphabet remains an unusually high-quality, cash-generative…

Kaspi.kz

Deep Value Intelligence

Bullish (3.85/5) on Kaspi.kz (KSPI), Oct 21, 2026. Price $94 vs intrinsic value $648,559, 100% margin of safety. Kaspi.kz JSC (KSPI) combines a large…

MasterCard

Deep Value Intelligence

Neutral (3.30/5) on MasterCard (MA), Oct 21, 2026. Price $620. Mastercard remains an exceptionally high-quality payments network with strong secular…