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Ten positions, high conviction. That's the whole strategy. Diversification is for people who don't do enough research.
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I wrote an open letter to Mark Zuckerberg suggesting he cut 20% of employees. Three weeks later, he laid off 11,000 people. The stock tripled.
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I grew up in a town of 6,000 people in Indiana. Nobody there invests in tech stocks. That perspective is an edge, not a handicap.
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The best time to invest in a technology company is at the inflection point — when the business model clicks and the market hasn't noticed yet.
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The SPAC with Grab was the biggest ever at $40 billion. The timing was terrible. I still believe in the company.