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I also sold $SQ. Between Jack taking Block into manufacturing Bitcoin mining chips and hardware and the recent revelation from the Delaware court that TIDAL was an awful acquisition (we all figured it was awful at the time but it's clear now Jack spent $306M of shareholder money to become friends with Jay-Z), I'm out. I'm going to keep an eye on the company though. If Jack moves on or if his voting power drops far enough (currently at 41%) that activist investors take an interest, I'll buy back in (assuming I still like the financials), but for now, I'm out.
My returns are on par with the market because I sold 1/3 of my shares (originally purchased at ~$40) at $133.51 in Jan 2022. If I hadn't done that, I'd have been trailing my benchmarks significantly.
Time Held: 5.45 years
My Total / Annualized Return: 74.98% / 15.02%
$SPY Total / Annualized Return: 56.29% / 11.63%
$QQQ Total / Annualized Return: 99.18% / 17.93%
Twitter
Sheel Mohnot on Twitter
“Block acquiring Tidal made no sense to me; turns out nobody at Block other than @jack wanted it; He was doing his buddy Jay-Z a favor (at Stockholder expense)
The memo is FANTASTIC and worth a read to see how an "all-star company" REALLY operates.
https://t.co/tznroN9ApP”
Let me tell you this I need to listen to myself more. Hershey another name I was looking at when price was $220. Would be up a gazzilion if I bought. I need to follow through with my ideas more. Long story short happy to see the Hershey add thinking about finally owning them long term
@interrobangbros yep I think it’s a buy until retirement, great management team and an exceptional well run business. Pricing power, big brand. I’ll take this name over just about anything for my retirement
Also agree with the square reasoning. Jack has always been an acquired taste. No thanks
@christian7621 I was able to ignore the googly eyes he had for Bitcoin up until a certain point but I've reached my limit.
@interrobangbros I personally think crypto is a scam lol so I never liked his obsession with Bitcoin. Also just a weird guy. Twitter bad vibes too lol. I also think clover is much better an square pos but that’s just because I love Fiserv 😂
Added to my $HSY position too :)
I also sold square. The Hindenburg research short report was pretty convincing.
I’ll drop my name in the hat for the $HSY fan club as well 🍫
@scorebdinvestor @interrobangbros welcome to the Hershey club lol. Real talk for both of you. What’s your thoughts on Apple as an investment? Too late? To early? Anything you wanna share
@christian7621 Apple has been one of my best performing investments. However, I have not bought since my initial purchases in each of my accounts. I hope it continues to do well and I have more opportunities to add to it
@scorebdinvestor I’ve always had this hatred toward Apple and I finally grew out of it after much much research. I think the future is so bright for them. I thought they would eventually hit their peak but I don’t see that happening. There more than just an iPhone company. Their brand and network affects are crazy good. Customer loyalty off the charts lol. Definitely the best business in the world. Future is bright too im not just saying that, India, vr/ar, IPhone demand, services revenue. Cook may just be the best ceo on the planet even better than Elon tbh. Collect dividend which they’ll always raise because they have a shit ton of cash, buyback a shit ton of shares, not have to worry about them at all kind of mentality. Will continue to be the best technology stock to own I think
@christian7621 I’m in the same boat as @scorebdinvestor. Apple has been an unbelievable investment for me but aside from DRIPs, I haven’t added since I first bought, which I think was back in 2016 or 2017. For me, I wouldn’t invest now as I’m looking for smaller companies with more room for growth. Apple May double in the next 10 years but I’m swinging for companies that may quintuple in the next 10 years.
That being said, I am definitely not considering selling my Apple shares. It’s a core investment, for sure.
I can't say I disagree with you about Block, but because I go to countless places and see Square terminals, card readers, and other peripherals related to them, they have to be doing something right. Not saying that is enough to be meaningful. I still believe Jack and his weirdness aren't helping my overall vibes.
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