Core Insights - Michael Burry has shared his stock picks after closing his hedge fund to outside cash, expressing a desire to communicate freely without regulatory constraints [1] - Burry's selected stocks include Lululemon Athletica, Molina Healthcare, Shift4 Payments, and Fannie Mae, which he views as long-term holds [2][3] - The current market conditions are seen as favorable for finding undervalued companies due to seasonal selling pressures [1][4] Company Summaries - **Lululemon Athletica**: An athletic-apparel retailer known for premium yoga pants, has seen its shares decline by 52% year-to-date, trading at under 15 times projected earnings [4][5] - **Molina Healthcare**: Provides affordable health insurance and healthcare services, primarily to low-income and senior Americans, with shares down 49% this year, also trading at under 15 times projected earnings [4][5] - **Shift4 Payments**: A fintech company offering payment processing and commercial tools, has experienced a 32% drop in share price year-to-date [4] - **Fannie Mae**: A government-sponsored enterprise that guarantees over $4 trillion in mortgages, its shares have tripled this year amid speculation of privatization [3][5] Market Context - The selected stocks are characterized by their market capitalizations under $25 billion, indicating a focus on smaller, beaten-down stocks [4][5] - Burry's investment strategy emphasizes deep-value opportunities, particularly in the current environment where many managers are reluctant to hold losing positions at year-end [1][4]

Core Insights - Visa Inc. has partnered with Aquanow to enhance its stablecoin-based settlement infrastructure in the CEMEA region, allowing transactions to be settled using approved stablecoins like USDC [1][4] - The partnership aims to streamline cross-border settlements, reducing time, cost, and operational friction associated with traditional banking systems [2][4] - The adoption of stablecoins is expected to modernize Visa's transaction processes, with monthly settlement volumes indicating over $2.5 billion in annualized activity [3][4] Visa's Strategic Moves - The integration of Aquanow's digital-asset infrastructure into Visa's technology stack will facilitate quicker fund settlements, potentially operating around the clock [2][4] - This initiative is anticipated to improve Visa's margins over time by lowering operational and liquidity costs, attracting new clients such as banks and fintechs [4] - As stablecoin usage increases, Visa's position as a global settlement hub is expected to strengthen, leading to higher transaction volumes and recurring fees [4] Competitive Landscape - Competitors like Mastercard and American Express are also advancing in the stablecoin space, with Mastercard launching tools for stablecoin transactions and American Express exploring blockchain partnerships [5][6] Financial Performance and Estimates - Visa's shares have increased by 5.6% year to date, outperforming the broader industry but lagging behind the S&P 500 Index [7] - The forward price-to-earnings ratio for Visa is 25.52X, higher than the industry average of 20.32X, indicating a premium valuation [10] - The Zacks Consensus Estimate projects an 11.7% year-over-year earnings growth for fiscal 2026, followed by 13.3% growth in the subsequent year [12]

Core Insights - Visa (V) stock demonstrates superior revenue growth and profitability compared to Block (XYZ), suggesting that investing in Visa may be more advantageous [3]. Financial Performance Comparison - Visa's quarterly revenue growth was 11.5%, significantly higher than Block's 2.3% [3]. - Over the last 12 months, Visa's revenue growth was 11.3%, while Block's was only 0.5% [3]. - Visa's last twelve months (LTM) profit margin stands at 66.4%, with a three-year average margin of 66.8%, indicating strong profitability [3]. Valuation Metrics - A side-by-side comparison of financials reveals that Visa outperforms Block in terms of growth, margins, momentum, and valuation multiples [4]. - Historical market performance metrics indicate that despite strong numbers, stock investments carry inherent risks [6].

Core Insights - Visa Inc (NYSE:V) is recognized as one of the top non-AI stocks being purchased by investors on Reddit, reflecting its strong position in the payments card services market [2][5] - The company reported positive quarterly results and anticipates low double-digit revenue growth for fiscal 2026, driven by robust consumer spending in online and travel sectors [2][3] Group 1: Company Performance - Visa's management indicated that consumer spending remains resilient despite macroeconomic concerns, and similar trends are expected to continue into the next year [3][4] - The company expects pricing benefits in 2026 to mirror those of 2025, with most changes taking effect in the latter half of the year [4] Group 2: Market Position and Trends - Visa operates the largest retail electronic payment network globally, and despite a recent decline in share prices due to broader market selloffs, the company is viewed positively in terms of its market position [5] - The proliferation of stablecoins is not seen as a threat to card volumes; instead, it may expand the addressable market for card networks, enhancing their value proposition in consumer-to-merchant payments [5]

Core Insights - Visa is a leading player in the digital payments industry, benefiting from a strong network effect and an asset-light business model that allows for high profit margins [4][6][8] - The company has a significant global presence with 4.8 billion payment credentials and acceptance at over 150 million merchants, making it the most widely held and accepted card [4][5] - The growth of digital payments presents substantial opportunities for Visa, especially as many regions still operate primarily on cash [8][9] Group 1 - Visa's network effect incentivizes merchants to accept its cards, enhancing its market position [4][5] - The asset-light business model enables Visa to expand its reach without heavy investment in customer acquisition or infrastructure [6][8] - Visa's competitive advantages include strong cash flow and a proven track record, making it a favorable long-term investment [8] Group 2 - The ongoing transition from cash to digital payments positions Visa to capitalize on future growth opportunities [9] - Visa's operational margins are among the highest in the industry, allowing it to maintain a competitive edge [7][8]

Core Company Overview - Jack Henry & Associates, Inc. (JKHY) has a market cap of $12.4 billion and operates in the financial technology sector, providing technology solutions and payment processing services to individuals and financial institutions [1] - The company operates across four segments: Core, Payments, Complementary, and Corporate and Other, offering integrated banking systems, digital banking tools, and secure payment processing solutions [1] Stock Performance - Over the past 52 weeks, JKHY shares have underperformed the broader market, with a marginal decline compared to an 11% return of the S&P 500 Index [2] - Year-to-date, JKHY shares are down 2.6%, while the S&P 500 has gained 12.3% [2] - JKHY has also underperformed the Financial Select Sector SPDR Fund (XLF), which rose nearly 3% in the same period [3] Recent Financial Results - Following the Q1 2026 results announced on November 4, JKHY shares jumped 4.9%, reporting an EPS of $1.97, which exceeded analyst estimates [4] - Revenue for the quarter was $644.7 million, reflecting a 7.3% year-over-year increase, and net income rose by 21% to $144 million [4] - The company raised its fiscal 2026 guidance, projecting revenue between $2.49 billion and $2.51 billion and EPS between $6.38 and $6.49, surpassing previous forecasts [4] Analyst Expectations - For the fiscal year ending in June 2026, analysts anticipate JKHY's EPS to grow by 3.4% year-over-year to $6.45 [5] - The company has a promising earnings surprise history, having beaten consensus estimates in the last four quarters [5] - Among 17 analysts covering the stock, the consensus rating is a "Moderate Buy," with five "Strong Buy" ratings, 11 "Holds," and one "Strong Sell" [5] Price Target and Market Sentiment - Goldman Sachs raised its price target on JKHY to $175 while maintaining a "Neutral" rating [6] - The mean price target of $177.54 indicates a 3.9% premium to JKHY's current price levels, while the highest price target of $208 suggests a potential upside of 21.8% [6]

Core Insights - Shift4 Payments is a leading financial technology company specializing in integrated payment processing with over 200,000 customers across various industries [1] Company Overview - Shift4 Payments has been building its competitive advantage for many years, indicating a strong market position and customer base [1] Industry Context - The company operates within the financial technology sector, which is characterized by rapid growth and innovation in payment processing solutions [1]

Core Insights - Shift4 Payments is a leading financial technology company specializing in integrated payment processing with over 200,000 customers across various industries [1] Company Overview - Shift4 Payments has been building its competitive advantage for many years, indicating a strong market position and customer base [1] Industry Context - The company operates within the financial technology sector, which is characterized by rapid growth and innovation in payment processing solutions [1]

Group 1 - Berkshire Hathaway, led by Warren Buffett, holds positions in over 40 publicly traded companies, with six being components of the Dow Jones Industrial Average [1] - Four out of five of Berkshire's largest holdings are Dow stocks: Apple, American Express, Coca-Cola, and Chevron [1] - Berkshire's public equity portfolio is valued at approximately $302 billion, with its property and casualty insurance businesses considered even more valuable [4] Group 2 - Visa is the largest among the major credit card companies in terms of market capitalization and transaction volume, benefiting from a network effect that encourages more merchants to accept Visa [5] - Visa converts nearly half of its revenue into free cash flow, indicating high operational efficiency [6] - Visa operates a capital-light business model, partnering with financial institutions to issue cards, thus avoiding credit risk and the obligation to pay user rewards [7][8] Group 3 - Visa has a predictable runway for future growth, recently rewarding shareholders with over $22 billion in stock buybacks and dividends [9] - In contrast, American Express spends more than double on cardmember perks than it collects in annual fees, highlighting a different financial strategy [10]

Core Viewpoint - RYVYL Inc. has received provisional approval for a derivative settlement related to lawsuits against its current and former officers and directors, with a final settlement hearing scheduled [1]. Group 1: Legal Proceedings - On November 14, 2025, District Judge Gonzalo P. Curiel granted provisional approval of the derivative settlement in the case "Christy Hertel, derivatively on behalf of RYVYL Inc. v. Ben Errez et. al." [1] - The derivative lawsuit was filed on June 22, 2023, against certain current and/or former officers and directors of RYVYL [1]. - The proposed settlement also resolves related derivative litigation pending in the Eighth Judicial District Court in Clark County, Nevada [1]. Group 2: Regulatory Filings - The Notice of Proposed Settlement and the Stipulation and Agreement of Settlement have been filed with the U.S. Securities and Exchange Commission as exhibits to the Company's Form 8-K dated November 21, 2025 [2]. - These documents are accessible on the Company's website under Reports & Filings [2]. Group 3: Company Overview - RYVYL Inc. operates a digital payment processing business that enables global transactions and provides payment solutions for underserved markets [3]. - The company has developed applications that offer an end-to-end suite of turnkey financial products, emphasizing enhanced security, data privacy, identity theft protection, and rapid speed to settlement [3].