Zuck Stole My Lunch Money

Investing in value traps since 2020. Kwant value. PMs enjoyer. Career in IT. Pessimist bias. 🇩🇰 $EVO enthusiast #EndTheFed

[Zuck Stole My Lunch Money @NOTFOMO]

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[Zuck Stole My Lunch Money @NOTFOMO]

I'm buying a starter position in
$ADBE, if it isn't up by the time market opens.

Yes, it is $PYPL 2.0 - which is also a buy.

[Zuck Stole My Lunch Money @NOTFOMO]

Oh and forgot, I have some funds allocated to Pokemon cards still.

Trimmed TEP a little bit after this post, might use those funds to add to DIN.

[Zuck Stole My Lunch Money @NOTFOMO]

Sporadic portfolio update if anyone gives af.
Haven't touched the portfolio much in recent months.

I no longer own any gold or silver.
Also have some allocation to CS2 items.

[Silicon Salvage @SiliconSalvage]

I told a guy at a barbecue last weekend that I had been buying busted small-cap software stocks at 4x free cash flow, and he looked at me with the specific facial expression of a man who has just realized he is trapped in a conversation with someone who voluntarily reads 10-Ks on vacation. He asked, with great gentleness, if I had considered Nvidia. I said I had considered Nvidia in the way one considers jumping off a bridge: briefly, theoretically, and with a clear understanding of the outcome.

I told him I owned a company that sells dental practice management software to 11,000 orthodontists and that the CEO, a 64-year-old man named Greg who has not updated his LinkedIn since 2017, was, in my professional opinion, the single greatest capital allocator alive in North America today, and that I would, if legally permitted, have Greg’s name tattooed on my forearm.

He asked if Greg knew this. I said Greg did not know I existed, and that this was the foundation of our relationship and the source of its strength. He excused himself to go check on his children, who, I observed, were not present at the barbecue. I stood by the grill alone for the next 40 minutes, eating directly from a bag of buns, thinking about Greg, who at that exact moment was, somewhere in suburban Indianapolis, almost certainly buying back stock at prices that will, in 2031, be regarded as the single greatest gift any small-cap CEO has ever given his shareholders, and the host’s wife came over and asked, with palpable concern, if I needed a ride home, and I said no, I needed nothing, I had Greg, and Greg was enough, and I have not been invited back to that house, and I do not care, because Greg loves me even though Greg does not know I am alive, and the math, as it has always been in every great deep value trade in history, is the only thing in this country that has not lied to me.

[Zuck Stole My Lunch Money @NOTFOMO]

Seems like $DIN is executing well and they have bought back a truckload of shares. Dual-branded store development is going to be the bull case. I'm getting back in.

Also added to $NOW

[Zuck Stole My Lunch Money @NOTFOMO]

@Fenmagne Oopsies 🤪

[Zuck Stole My Lunch Money @NOTFOMO]

@TheREALMADriD94 The dilution authorization is presumably just to satisfy potential redemption of warrants

[Zuck Stole My Lunch Money @NOTFOMO]

@valuephilos Enterprise value is just market cap + net debt + preferred shares (if any)

[Zuck Stole My Lunch Money @NOTFOMO]

@valuephilos I'm just trying to figure out if you understand what Enterprise Value means...

[Zuck Stole My Lunch Money @NOTFOMO]

Now I don't need to outsource that part of my job or even do it myself, almost eliminating my need for $ADBE photoshop.

I use Magix Vegas for video editing still, as I never learned to do my whole workflow in After Effects. But may as well have been using AE instead.

[Zuck Stole My Lunch Money @NOTFOMO]

Spent my last liquid funds buying the dip in $TMV $TMV.DE

I don't trust the AI-kills-SaaS narrative and have been buying a few names, also $PAYC and $NOW.

You can't vibe code a sales force, distribution, compliance, corporate structure or B2B relationship.

[Zuck Stole My Lunch Money @NOTFOMO]

Already seeing early signs of disruption in the office productivity software space, such as https://t.co/fNoExu4ad9, which is quite good at removing backgrounds from product images.

[Zuck Stole My Lunch Money @NOTFOMO]

@chivarse Another potential driver of lower revenue and profitability could be further ringfencing outside of Europe, but that risk seems speculative at best.

I don't monitor it very closely, so as to not get caught up in narratives and negative sentiment. I focus on the numbers.

[Zuck Stole My Lunch Money @NOTFOMO]

Looks like $EVO is trading at an 11.93% LTM FCF/EV yield

I bought more again

[Zuck Stole My Lunch Money @NOTFOMO]

@chivarse A large sustained drop in revenue and profitability would be a deal breaker.

A potential driver of that could be regulators raising GGR taxes => lower channelization.

Europe no concern, as that has been fully ringfenced - all black market activity has been eliminated in Europe.

[Zuck Stole My Lunch Money @NOTFOMO]

@chivarse If you mean Europe concerns in terms of Euro/SEK or geopolitical risk for foreign investors, then that is also no concern for me, as I am European.

[Zuck Stole My Lunch Money @NOTFOMO]

@chivarse I forgot to add that they are also the leader in live casino, as evidenced by the established competitors actively attempting to copy their games.

Another point for operational excellence.

You get RNG for free. It's not performing that great and I don't pay much attention to it

[Zuck Stole My Lunch Money @NOTFOMO]

@chivarse Not financial advice. DYOR. I may have made substantial errors. I, and/or others I advise, may hold substantial investments in the securities discussed. I am under no obligation to provide future disclosures in the event that I buy or sell shares.