With my last deep-dive until August coming out in a week, I wanted to take the chance to look back at the most contrarian thesis I’ve made public, being negative on $FB in early January and remaining so despite the stock dropping over 30%

A prelude: While the key components and reasoning I had to say Facebook was a bad stock were correct, there were many details and finer points where I was wrong, and I’ve been able to recognize flaws in my own process as a result. I hope that I’m able to continue improving and come back better than ever when August comes.