What are you buying today?

[GordonGekko69]

Only wrote puts on PAH3 so far but never got assigned. Today I just bought my starterposition

[Libs]

Maxed out on JOE

[sleepydragon]

Added to POAHY

[rkbabang]

I just bought more JOE, using the proceeds from selling a little over my cost basis in UI (I was up over 215%).

 

 

[linus_md]

Increased position in PAH3/POAHY.

[LC]

Fairfax on the TSE

[CorpRaider]

El Goog

[Red Lion]

Added to my new GOOGL position.

[Paarslaars]

Jumped on the PAH3 wagon.

Also took a starter position in KIST.

[Rustycage]

Dbrg, Drm.to

[ValueMaven]

bought MCY today

[Spekulatius]

44 minutes ago, ValueMaven said:

bought MCY today

One of the shittiest insurance companies I am aware of (from a shareholders perspective). Hasn’t gone anywhere for 2 decades.

 

I owned shares around 2001 or so and made out OK riding the shares up a bit, but they are pretty much back to the same levels.

 

I liked them as a customer when I lived in CA, lowest rates for the combo of homeowners and car insurance by a country mile for me.

 

What is your thesis?

[Spekulatius]

Mostly small adds: GOOGL , COF, VNT, TPB. Bought back some FAF in one account as well.

[investor1]

SAX.DE

[longlake95]

JOE

[gary17]

looking at fairfax two year corporate bond lol

[fareastwarriors]

average down on $META...

getting really painful. 

Edited September 13, 2022 by fareastwarriors

[Spekulatius]

8 minutes ago, fareastwarriors said:

average down on $META...

getting really painful. 

[jfan]

38 minutes ago, fareastwarriors said:

average down on $META...

getting really painful. 

I joined you in this toilet flushing moment.

Not that I'm fantastic at pinpointing intrinsic value. But it seems to me the market has already priced in a digital ad market share decline from mid 20% to mid teens, and a terminal value PE multiple compression to 16 over the next decade. I just see WhatsApp monetization and Reality Labs as a free option at these market values. 

 

I guess the biggest risk is an exponential deterioration of social networks when people churn off to competitors. What were the reasons for MySpace's demise? 

 

[IceCreamMan]

1 hour ago, jfan said:

What were the reasons for MySpace's demise? 

 

Facebook?

[jfan]

17 minutes ago, IceCreamMan said:

 

Facebook?

Sorry could be a bit clearer. Just trying to draw historical lessons from the demise of MySpace and to see if there are parallels with the Meta story.

[crs223]

23 minutes ago, jfan said:

Sorry could be a bit clearer. Just trying to draw historical lessons from the demise of MySpace and to see if there are parallels with the Meta story.

 

He’s saying “facebook was the reason for myspace’s demise”.

[LC]

facebook:myspace

tiktok:instagram

 

?

[Spekulatius]

6 hours ago, LC said:

facebook:myspace

tiktok:instagram

 

?

Tiktok really is not a replacement for FB or Instagram. It’s not a social interaction platform. Most users just passively watch short form video there, which is different than interacting with other users or uploading your own fotos etc. In my opinion, Tiktok is more a competitor for YouTube than FB and IG.

 

That said, they all compete for eyeballs and attention. With Zuck’s Metaverse Adventure, there is a real risk than Meta becomes a rapidly melting icecube. For that reason, I would be reluctant to average down to no end.

 

When network effects start to unwind, the underlying value can become extremely squishy. I own some shares, but I am reluctant to add more. I need to see some tangible progress on the product development from Meta here to add more to this bet.

 

I decided a while ago to switch ~80% of my Meta allocation to GOOGL. I would much rather add to GOOGL than to Meta at this point.

[DooDiligence]

41 minutes ago, Spekulatius said:

I would much rather add to GOOGL than to Meta at this point.

 

I just Googled this and the internet says you are correct.