Dimitry Nakhla | Babylon Capital®
RT @DimitryNakhla: At 26x Earnings & a 4.16% FCF Yield, $SPGI appears to be one of the better risk/reward long-term opportunities in today’s market

*(NTM) https://t.co/17nSo9cLlK
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Capital Employed
Another fresh batch of Q3 letters added. ✍️

Including @eriksen_tim who always seems to an array of interesting ideas in OTC markets.

The letter from @HiddenGemsInves is a great read too, mentions some decent and undervalued UK companies.

https://t.co/wUDSfhTdYl https://t.co/pGHjMKDntV
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Capital Employed
Forager Funds have highlighted four interesting Japanese stocks... 🇯🇵

1) OBIC Business Consultants $4733 - software business.
2) DreamArts $4811 - micro-cap software business.
3) Visional $4194 - recruitment.
4) eWeLL $5038 - subscription business to do with nursing.

Any good?
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Yellowbrick Investing
$AIRO short

$AIRO (AIRO Group Holdings Inc.) is an interesting potential short to watch over the next few months. Have a more in-depth write-up that I'm working on and willing to share to anyone interested.

To summarize:

AIRO is a roll-up of small aerospace businesses with little strategic alignment. Management touts this as a "aerospace and defense innovator", capitalizing on the broader hype going on with drones and eVTOLs.

Potential short because:

1. AIRO is reliant on dilutive and predatory related-party financings to sustain operations. Management has already shown a willingness early on overpromise and underdeliver, and to disregard governance and engage in value-destructive practices for their own benefit

(Primary offering raised $69mm gross, only ~$17mm going towards supporting the growth narrative management promotes, the rest of the funds were used to repay investor notes which carried predatory terms. Disclosure around these notes is intentionally left opaque, but form 4s reveal that the Chairman, CEO, and COO were beneficiaries / secondary offering only 2-months after IPO, with a significant portion of proceeds noted to be used for buying out material management stakes prior to lock-up expiry; 15% implied dilution).

2. AIRO currently screens well due to one-time accounting gimmicks that will subside – ~$6mm reported vs. ~($30mm) normalized net income (from debt-to-equity settlements and adjustments to FV of contingent consideration). Business is fundamentally weak – eVTOL business exists as only AI images on their website, and the company itself derives ~90% of revenue from Sky-Watch (drone segment with only 1 major product), which has no discernable competitive advantage or durable contracts. Sky-Watch has temporarily benefited from donations and defense hardware testing initiatives in Ukraine (third-party expert calls echo this), meaning sales are likely to deflect

3. Executives (Chairman and COO) were key figures at UpHealth and Ocean Biomedical (both heavily embroiled in lawsuits, accused of fraud, and went to zero)

The tricky part here is when and how does this break, which I don't have a view on at this point. However, some things to consider is that AIRO has ~$101mm of cash on the BS and $21.8mm of debt to pay off NTM, with ~3-4 Qs left using last quarters burn as run-rate. There's a case to be made that burn should be a lot higher given near term pressures on working capital (mentioned by mgmt), along with unfunded capex in their eVTOL segment. Past companies ran by these guys have also had a history of diluting their investors (17% dilution through PP at UpHealth, ATM and toxic convertible structure at Ocean Biomed). - Penny Dust
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Dimitry Nakhla | Babylon Capital®
Moody’s $MCO Q3 2025 Report 🗓️

✅ REV: $2.01B (+11% YoY)
✅ EPS: $3.92 (+22% YoY) https://t.co/e82YBsJ5he

7. Moody’s $MCO (Wed AM)

🗓️ REV Est: $1.95B (+7%)
🗓️ EPS Est: $3.68 (+15%)

💵 NTM P/E: 31x
💵 NTM FCF Yield: 3.25%

$MCO analytics segment has been its primary growth engine over the past decade https://t.co/ImtOhHyi7g - Dimitry Nakhla | Babylon Capital®
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Quiver Quantitative
BREAKING: Representative Marjorie Taylor Greene just filed new stock trades.

She bought up to $15K of Bitcoin, $IBIT.

Full trade list up on Quiver. https://t.co/3t2WdR6aol
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Investing visuals
$NFLX slides 8% after a minor earnings miss and a tax charge hitting margins.

Zoom out and it’s still a compounding machine, up +30% year-to-date.

Q3 earnings visualized: https://t.co/rUidGvlzS2
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Quiver Quantitative
JUST IN: Nancy Pelosi has said that she will make an announcement next month about her political future.

If she retires from Congress, you will no longer be able to track her portfolio on Quiver.
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Quiver Quantitative
JUST IN: The Republican National Committee now has $85M of cash on hand.

The DNC has just $12M. https://t.co/78IF6ULgL1
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