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?
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?
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!
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
Thank you! I wholeheartedly agree. I try to remind myself that everyone made money last year and any success I realized was not guaranteed but unless you made some very dumb choices it was hard to lose money. Thank you for sharing! My respect and admiration for Chamath also grew significantly. I try to watch as many of his interviews as I can. On another, similar note, what do you think of Bill Ackman?
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
I have ipof . In chamath we trust
I like that lol “In Chamath We Trust” like some sort of investor cult 😂
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What you're doing is gambling. Which is fine, but don't call it investing.
Is it gambling because it’s a SPAC or is it because I didn’t do enough DD?
Your hoping for a positive outcome. It's gambling because hope is involved. Anyway, spacs are gambles. Again nothing wrong with it, just understand the risks.