Trading Post August 6, 2026 Two Shorts, 3 Earnings Reports with 1 Add & 2 Holds

This is a bit like shooting fish in a barrel. They all look similar, and probably any single one would do.

I’m in the midst of writing Part IV of the Heretic’s Guide. It’s a doozy of a document, and I am having trouble getting my head around why all these fish are in the barrel in the first place.

The fish have gorged themselves on off-balance sheet liabilities. Backstops. Uncommenced leases. Purchase commitments.

The fish have gotten very fat, very large, easy to shoot.

Also, so large that it shan’t be long before every last one keels over for lack of oxygen.

In any event, I came across this inconvenient truth: uncommenced leases, some as long at 11 years, at 18x the company’s entire sales.

This is not the only one with this kind of problem, excused in the present as simply future growth, misinterpreted.

There is so much about which to write, I should get back to that.

First, I shorted two stocks today because my work just wouldn’t let me continue without doing so.