Did I buy the wrong SPAC?

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Derp1

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Derp1
Jan 10, 2021 19 Comments

By complete coincidence I bought 10 shares of IPOC (now Clover Health) one of Chamath Palihapitiya SPAC mergers.

Preface: I’m new investor - about a year under my belt.

Explanation:
I watch/listen to the halftime report on CNBC almost a daily basis when I have time to eat lunch - yeah yeah I know, by the time “news” hits the mainstream it’s already too late. However, by chance I was watching it live the day IPOC went public and they were interviewing Chamath about it. I really liked his perspective and his enthusiasm for investing in a “brighter tomorrow”. Over the last 8 months my respect and admiration for Chamath has only grown more enthusiastic.

I did some research about him and what a SPAC was - had no idea prior. It was $10/share so I said wth and bought 10 shares.

Fast forward 8 months I found out they had selected a company to take public. Did more research and was excited about their investment in healthcare tech to bring down the cost of medicare. While I don’t know a lot about this sector, I do know the aging population will continue to look at solutions for more affordable healthcare.
Bought another 50 shares at $16 a week before the conversion to CLOVH.

I don’t regret my decision to invest. However, I wonder if I missed the SoFi SPAC because I was so focused on IPOC.

I plan to invest in Sofi because I believe in it and I think Chamath is a safe bet. Ofc there is a lot more to consider when buying securities- these are initial thoughts.

I’ve seen some posts about SoFi but looking for a deeper discussion.

Thoughts?

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TOP 19 Comments
  • Gusto
    ErikTrump

    Go to company page Gusto

    ErikTrump
    What you're doing is gambling. Which is fine, but don't call it investing.
    Jan 10, 2021 10
  • Amazon
    magaKimaka

    Go to company page Amazon

    magaKimaka
    Over the last 8 months my respect and admiration for Chamath has only grown more enthusiastic.

    A rising tide elevates everyone. Now, more so than ever we need to be wary of who to take advice from. Everyone has become a stock guru!
    I still think building a diversified portfolio is a low risk high reward. but to each his own
    Jan 10, 2021 3
    • Amazon
      magaKimaka

      Go to company page Amazon

      magaKimaka
      Not a lot of him tbh. I however really admire Gundlach. His reasoning and obvervations on the macro level are very solid. I have learnt a lot from watching his interviews and videos. He correctly predicted the run up in gold in like 2017 or so. I was able to make a lot on money in GLD thanks to it. Obviously its “only” 70% returns comapred to 2x-10x returns some stocks gave. But for me it was really risk free (almost) because I kept buying GLD and SLV as I was convinced there was negligible downside.

      Hope it helps
      Jan 10, 2021
    • Cision / Sales
      Derp1

      Go to company page Cision Sales

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      Derp1
      OP
      Oh okay, awesome thanks for sharing! I was looking for more resources so I will check him out.
      Jan 10, 2021
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    • Cision / Sales
      Derp1

      Go to company page Cision Sales

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      Derp1
      OP
      True, good point. I wondered if that to be the case. Just a quick hit and then sell off. CLOV is projecting to triple their revenue by 2024. I was trying to look at it purely from an industry (healthcare) perspective. Does that make sense?
      Jan 10, 2021
    • Cision / Sales
      Derp1

      Go to company page Cision Sales

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      Derp1
      OP
      OK. Thank you for elaborating. This certainly makes sense. My intention going into this was to hold it for 24-36 months. If it tanks, it won’t affect my NW and if it soars I would like to sell between $50-100/share. I hadn’t heard of/thought of what you proposed so I will keep this in mind moving forward. Thanks again!
      Jan 10, 2021
  • Visa
    kuttatommy

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    kuttatommy
    I have ipof . In chamath we trust
    Jan 11, 2021 1