Research Archive · Written by Tyler Leas

Everything I've published, in one place.

Full theses with models and conviction ratings — authored work only, filterable by sector. In a hurry? Start with the featured reports.

TMT

What I Got Wrong and Right on Alibaba

Alibaba is down sharply since my Buy call last November, but I think the selloff is technical — a Pentagon blacklist dispute, an Anthropic IP accusation, and Hormuz-driven macro noise — not a broken AI and cloud thesis. Here's what I got right, what I got wrong, and why I'm still long.

By Tyler Leas Jun 30, 2026

High Conviction

TMT

Learning SOTP the Hard Way: My Sony Valuation

A first attempt at sum-of-the-parts valuation on Sony landed north of $40, but segment-level WACC and capex assumptions are where the real uncertainty lives — and a slipping PS6 timeline has lowered conviction on the near-term catalyst since April.

By Tyler Leas Jun 30, 2026

Medium Conviction