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Undiscovered Compounders

Tens of paid subscribers

Deep dives on companies too small or simply too boring for most of the market to bother with.

Platform
Substack
PricingFreemiumPublishesTwice weekly
Issues47Foundeda year agoLast Issue5 days ago
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Latest Issues

Copart’s $1.9B Bet on ACV Auctions: a Deep Dive

What Copart bought, how it won the auction, and what it needs for the deal to pay off.

On September 10, 2026, Copart (Nasdaq: CPRT) announced it would acquire ACV Auctions (NYSE: ACVA) for $10.50/share in cash, or about $1.9B.

5 days ago
21
Paid

What Q2 Did to My Build-A-Bear Thesis (and to My Buy Price)

Good thing I waited for the 10-Q.

Build-A-Bear (BBW) traded at $31 on June 29, the day my deep dive was published. Q2 results came out on August 27: -27% on the day, on near-record volume. The 10-Q was filed on September 10, and the stock...

9 days ago
9
Paid

Copart Q4 2026 Full Update: Reading a Bad Quarter Carefully

An ugly quarter, as expected. Underneath it, the first sign of the turn.

Copart (CPRT) reported its Q4-26 results on September 10, and the same day announced its intention to acquire ACV Auctions for $1.9B.

12 days ago
24
Paid

The 4 gold miners I own that don't need gold to go up

1 producer, 2 developers, 1 explorer. Ranked from my smallest conviction to my largest.

I currently own 4 gold miners in my portfolio: 1 producer, 2 developers and 1 explorer. Together they account for about 6% of my portfolio, and my goal...

18 days ago
23
7
Paid

Copart: a wonderful company at a wonderful price (I bought it, of course)

Copart (CPRT.NAS) just lost about 50% over the past year, falling back to historically low valuations. I'm convinced the market is wrong, so I bought it.

Of course, you shouldn't invest based on my conviction alone (or anyone else's). That...

a month ago
61
18

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    Professional rock-turner. Deep dives on companies the market hasn't found yet, but can't ignore for long. Deeply rooted in academic research.

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