Insider Stocks · For members
An entry from my investing journal, for members.
I keep circling the same tension with Microsoft: a wonderful business I can never quite buy at the price I want. The multiple has finally come back to earth, but the bigger question now isn't valuation. It's a single relationship, OpenAI, and whether nearly half the backlog riding on it is a risk or an edge.
Insider Stocks
The rest of this entry is for members
Before I buy a business, and before I sell one, I write up what I see: what it earns, what it’s worth, what could break it. Members read every entry, back to 2021. At least two new entries a month, more during earnings season.
Already a member? Log in to read the rest.