- Author is buying seven multi-year positions in October 2026—SoFi, Wynn, Netflix, American Express, RH, e.l.f. Beauty and Nike—because their selloffs reflect expiring setbacks, not permanent business damage.
- SoFi members rose from 5.2m to just under 16m, while products/member increased 1.46→1.54; author expects 17m year-end and $50–$100 long term, but limits sizing for recession and leverage risk.
- Wynn’s 2027 Middle East opening and RH’s hoped-for 2027–29 housing recovery drive targets above $200 and $400; RH cash rose to $125m from $41m, but author wants roughly $250m before feeling comfortable.
- Netflix’s improving margins/FCF, AmEx’s high-income customers, e.l.f.’s post-cost recovery and Nike’s fixable execution support targets of $200, $575, $400 and $100, respectively.
Investment pitches
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