Insider Stocks · For members
An entry from my investing journal, for members.
I'm selling my entire position in PayPal. This isn't a decision I make lightly. A significant part of my thesis hinged on Alex Chriss turning around the company—specifically his strategy of deprioritizing Braintree's unprofitable volume while doubling down on branded checkout. That thesis broke. Branded checkout grew just 1% in Q4, down from 5% in […]
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.
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