On CRTO

Pac Crest’s Evan Wilson (Outperform rating) has hiked his Criteo target by $10 to $65, while reporting the retargeted e-commerce ad provider has added Alibaba and Target as clients (the former outside of China). Wilson adds checks indicate Criteo’s cookies (used to track user activity and send targeted ads) are now on 49% of the top U.S. retail and travel sites. That trails Google’s 76%, but Wilson notes Criteo and Google’s cookies are used for different purposes. 2016 estimates have been hiked. Shares are less than $1.50 away from a 52-week high of $51.43. Previously: Cowen gives Criteo $58 target, sees big market opportunity

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I first became aware of CRTO due to a MF recommendation. I didn’t buy it. I couldn’t understand how they made money. I didn’t dispute that they made money, I just couldn’t understand what they did.

Later, on this board, I was reintroduced to the company, but there was also a multi-part, in-depth, lucid explanation of what they do and how they do it and particularly how difficult it is for another company to emulate them. I bought a rather large position (unlike Saul, I don’t always taper in and out of a position. Under certain circumstances I’ll make a substantial buy or sell).

Not long ago, CRTO fell precipitously due to an Apple announcement that a future version of Safari would provide ad blocking. Again, with the helpful analysis of some regular posters on this board, my suspicion that this was more or less irrelevant with respect to CRTO’s business operation, I sold some stock in which I was much less confident and bought a fairly large number of shares at $45.50. Today CRTO closed at $50.05.

I’m not bragging. I’m simply reporting how much easier it is to make investment decisions with a high degree of confidence once you have a methodology. Prior to becoming one of Saul’s students, I would make investments based on recommendations. Many of those investments were recommended by TMF, and many were not bad advice, but I never had confidence in the underlying methodology because I had none.

Prior to learning Saul’s techniques, a couple of weeks ago when CRTO took a dive, I would have been worried. I most certainly would not have seen it as an opportunity.

Thank you Saul. And thank you to the many intelligent and knowledgeable contributors to this board. I am far better (and richer) investor due to your generous sharing of knowledge.

I discussed these particular CRTO transactions with my wife the other day. She commented that I now had more information. I replied that the information had not changed very much, the difference is that I now have more knowledge.

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Thank you Saul. And thank you to the many intelligent and knowledgeable contributors to this board. I am far better (and richer) investor due to your generous sharing of knowledge. I discussed these particular CRTO transactions with my wife the other day. She commented that I now had more information. I replied that the information had not changed very much, the difference is that I now have more knowledge.

And thanks you too Brittlerock. I’m a bit overwhelmed by all these kind thoughts. Let me tell you, I really appreciate them greatly!
Saul

This board is well worth the price of RB and SA, the two I subscribe to, and much more. Thanks to Saul and all the others

andy

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And thanks you too Brittlerock. I’m a bit overwhelmed by all these kind thoughts. Let me tell you, I really appreciate them greatly!

Saul, you are a humble man. Your generosity has not only enriched me (and surely many others) financially, but also in a much deeper way. Before I became familiar with this board and your investing methodology investing was a hazardous experience fraught with doubts and insecurity. I was never very confident of what I was investing in or why I was making the investment. No fault of TMF, but the recommendation to buy and hold forever, irrespective of what may come never set very well with me. And the recommendations they provided were always glowing . . . I never really understood why a specific recommendation was good, and some seemed outright bad (like the Container Store, for example. How many special boxes is anyone going to buy?) There are several others I took a pass on, and a few more I should have passed on. Even the ones that worked out well (which were more than the ones that didn’t) always left me wondering, how come? And the fact that once a company was recommended it never fell out of favor - I just couldn’t understand that. It would turn out to be a good investment, eventually, just hold and hold and hold . . .

The ability to invest with confidence in my decisions, knowing they won’t all be winners, but more often than not they will be is invaluable.

And one more thing. I’m currently on vacation travelling in New England and DC. I just spent some time with my daughter and her new husband and introduced her to your methods and this board. She had never before shown much interest in money matters, much less investing, but to my surprise she was very enthusiastic about learning more and taking an active role in managing the investments for herself and her husband. I am very gratified and thankful to you for this.

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