Colin King

From $MNRO 10-Q (book value is over $18): "during the second quarter of 2027, we experienced a decline in our market capitalization as a result of a decrease in our stock price. Our stock price has a history of volatility, however, given the decrease was sustained throughout the quarter, we viewed this event as a triggering event and performed a quantitative analysis of the fair value of the Company’s single reporting unit as of September 26, 2026 which resulted in an estimated fair value that exceeded its carrying value, including goodwill."

In 1958, a company called Sanborn Map traded at $45 a share. Its investment portfolio alone was worth $65 a share. So you could buy $65 of stocks and bonds for $45 and get a map business thrown in for free. A 28-year-old Warren Buffett put 35% of his partnership into it, joined the board and pushed them to unlock the portfolio. Same playbook works today. You just need to find those stocks.

Starting to think $MGM is absurdly cheap here at ~$29… Market extrapolating a terrible Vegas quarter (EBITDAR -12%, RevPAR -8%) while largely ignoring Macau share gains, BetMGM profitability and Osaka optionality. More interestingly, the buyback window reopens 10/30 with $1.4bn remaining (~20% of market cap). Management willing to take leverage from ~4x to 4.5–5x. Vegas weakness is real, but the marginal buyer is potentially the company itself, with substantial firepower at precisely the wrong price for sellers. Note: Barry Diller ($PPLI) was willing to pay $48/share for this exact same company a few months ago… Thoughts welcome.

I have no horse in the race, but I don't get why $MNRO bulls are so surprised by the market's reaction to a quarter as shitty as this one, especially after Monro brought in a “turnaround specialist” and closed a bunch of underperforming stores. By now, I don't think anyone disputes that the company is in play, with Icahn and Gabelli pushing for a sale. That said, I'd guess Mavis is still digesting the Pep Boys acquisition, and there aren't all that many buyers willing and able to pay up for a deal like this. With interest expenses set to rise further in 2027, net debt rising, and operating performance this poor, it seems potential buyers can afford to wait a lot longer than Monro can. And that's hardly the position you want to be negotiating from. Lastly, correct me if I'm wrong, but I don't buy the hard-asset downside protection argument either. Sure, they own some of their store real estate, but its value doesn't come close to covering what the market is valuing the company at today. I think there's a decent chance a transaction happens, which is why I'm following the situation. But until there's some sign of an operational turnaround, the bet seems pretty binary to me. So I wanted to see if there's something I'm overlooking, or if you're simply more willing than I am to take the risk of "no deal."

Cheapest software names based on forward P/E (market cap >$2bn) I'm a fan of $GEN on this list... 6.5x earnings with 12.5% estimated EPS growth next 3 years

Anyone have access to BofA downgrade on $DCH? I'm long and this is a pretty steep cut lol

One dollar for a dozen eggs. $CALM earnings going to suck.