Tyler P's avatar
$1m follower assets
Sold my position in Palantir today. I have a lot of reasons for it that I believe are legitimate, but at the end of the day, I felt like I broke two of my rules when I bought the stock in the first place.

1) I don't really understand the business. I like what I read - the research I did before buying led me down what I believe was a stable path. But all told, I sold myself a story I didn't intimately understand about a cyber security/mass data company. Basically, I bought it because I thought the stock would go up in the future. That isn't/shouldn't be good enough. I made a tiny profit by getting out when I did this morning.

2) Co-founder Peter Thiel is the antithesis of everything I believe the head of a company should be. He's probably a genius, of this I have no doubt. But I don't trust him - and I don't want to make money based on his whims. Besides my disagreement with his politics, his latest crypto pump and dump shows he's solely interested in his own wallet -- to the detriment of those who allow him to use their capital to fund other ventures.

Posting this to keep myself honest and to be transparent of my own foibles. I didn't lose money, and I wasn't in the stock very long, but I try to follow Peter Lynch's advice of only investing in what I know. Here's hoping I got better at that today.
Joshua Simka's avatar
Based on the reasons you lay out, it sounds like $PLTR isn't a fit for your portfolio. Well done coming to your own conviction on the company and acting on it. Better late than never! The path isn't linear.
Conor Mac's avatar
Appreciate the candour here. Fair play for being honest with yourself!
Nathan Worden's avatar
Great reflection, and nice to hear that there was a silver lining that you were able to exit with a small profit.
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Nathan Worden's avatar
Also, what was the crypto pump and dump that Peter Thiel was involved with? I hadn't heard about that.
Nathan Worden's avatar
@nathanworden Oh maybe that he sold out of all the bitcoin he had— looks like he sold the top on BTC

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Nathan Worden's avatar
@jtp Ah got it, thank you!
Dissecting the Markets's avatar
The second point intrigues me. Many of the Palantir bulls obsess more with Alex Karp.



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