All,
I have read almost everything that has been written on this stock.
I bought two positions in this stock in jan and feb both at $22 and change and watched it halve during the dark days of March. I sold most of it off at either 86 or 100, bought a bit more at 74 and sold all of it yesterday at 75.
I am not as old as Saul( I don’t think) but have been doing this thing we do either as a broker, investment manager or for myself for nearly 40 years now.
If you are new to investing, and by that I mean have been doing it for less than five years, please read the knowledge base. You will save yourself some heartache if you learn from it.
I believe Saul, like me, was invested in Infinera a few years back when it was considered the dog’s bollocks of fibre optic companies. Great tech ; lousy investment.
All stocks are like anything else that you can buy ; at a certain price they are worth it : at another price , they aren’t.
The chief architect and founder Artur Bergman has sold, in both planned and un planned sales, this year just over $326 million of stock.
I have also sold my cloudflare on the un analytical reasoning of I think Matthew Prince comes across as a smug bast…d and I can’t stand him .
Back to Fastly. I think that I wrote back in May that the new CEO inspires little confidence in me. I think the recent mid steps may have bourne that out.
What now : those much smarter than me say that this technology is special and different and that there is a market for it now and that that market will grow in the future. If that is true and fastly can either keep their lead or expand it then it should be a great investment over time.
If I believe this then the question for me becomes ; At what price do I feel comfortable re-buying fastly to discount for my lack of technological knowledge, disquiet over the founders’ sales and the lack of confidence in the CEO. You , who have read this far, will have your own question on fastly or perhaps you have already answered it.
Thanks Saul. A gift to those of us who are too old nor too arrogant to learn from others.
Jonathan