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§ Research Archive

The Thesis
Archive.

Each entry is a standalone piece of research — an honest reconstruction of what we believed, why we believed it, and what would have changed our minds. Presented in reverse chronological order.

2 Theses Published
20252 entries
  1. 24Oct
    ThesisOct 24, 2025

    Micron Technology

    We view Micron as a structurally advantaged memory franchise mispriced as a cyclical commodity. AI-driven bit growth, HBM3E leadership, and onshored capacity support durable free cash flow under conservative assumptions.

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  2. 02May
    ThesisMay 2, 2025

    BEYON

    Analyzing Beyon's financial performance and strategic initiatives, and why market saturation, M&A reliance, and leadership concerns lead me to pass on this investment.

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