Analyst of the Month: Mario Stefanidis (@covered_call) "Most people looking for mispricing are looking for forecasting errors, trying to find where the market has the wrong number. Those are hard to find and get competed away fast. Classification errors are different: the market has the right numbers and the wrong category, so it applies the wrong multiple to a perfectly accurate model. Those persist for years, because nothing in a screen catches them. Block (XYZ), a company that just grew gross profit 25% year over year in 2Q26 with 27% operating margins, is trading much cheaper than the Nasdaq-100 at 18x NTM P/E (versus 23x) because it gets lumped into the beleaguered payments sector rather than a consumer lending and commerce platform with a payments business attached." Full interview 👇