It’d be great if you can ask how does he justify the valuation of Carvana. The theory and idea behind a marketplace sounds great but the valuation is pretty stretched.
Amazon stock was down -95% at one point in its history. If Joe’s portfolio is full of these, or has “one” of these that he sticks with, his results will actually work out brilliantly. The emphasis on his 2022 returns in these posts: I’m curious if Joe’s LPs are all feeling sanguine on the drawdown and in retrospect does Joe think he was successful in making sure his LPs are truly aligned.
5 min in and already admiring Joe’s thought process. Thanks Tilman for producing such quality content!
Hardest part about story stocks is determining if the business can actually ever make money.
If you go from the unit economics you can get an idea on that. But the future is the future :).
It’d be great if you can ask how does he justify the valuation of Carvana. The theory and idea behind a marketplace sounds great but the valuation is pretty stretched.
Amazon stock was down -95% at one point in its history. If Joe’s portfolio is full of these, or has “one” of these that he sticks with, his results will actually work out brilliantly. The emphasis on his 2022 returns in these posts: I’m curious if Joe’s LPs are all feeling sanguine on the drawdown and in retrospect does Joe think he was successful in making sure his LPs are truly aligned.
this dude down -95% in the last year
And even worse, in his letters he claim there is nothing wrong with his companies. His valuation of those companies did not change.😂