Meet Stella

But first . . .

I went to bed Sunday night with SPRT at $2.14 (which is sort of like $1.14 for those of us who bought it long enough ago to have gotten the non-taxable $1 return of capital) . . . and woke up to see that I could sell it for $8, which I promptly did.

Some of you emailed to relate similar stories.  This made me really happy.

Apparently, some company that mines bitcoins . . . (and what a worthwhile endeavor that is, bound to enrich humanity by consuming vast amounts of energy to make bitcoin less scarce) . . . wanted a cheap way to go public.  Merging with an existing little public company was a good backdoor way to do it. 

“Sometimes, patience pays off,” I wrote here a couple of years ago.  “Buy when everyone else thinks it’s hopeless — like SPRT last week? (I bought more at $1.65) — but only with money you can truly afford to lose, because all too often everyone else is right.  (SPRT faces some significant challenges sown by the previous management; but I like the CEO and am betting that in the long run this may work out.)”

In reminding me I had written this, one of you credited me with “prescience.” 

Believe me: it was not prescience.  Or patience. 

It was complete, nutso, delightful dumb luck.

I also sold my CNX yesterday.  Here’s why.  I have no idea if the analysis is solid, but I don’t mind taking a double on the shares bought when we doubled down (and a modest profit on the initial shares).  Especially because, if you double down in dollars, not shares, you come out well ahead.  (Right?  Buy one share at $14 and two more at $7.  When the stock gets back to $14, you have $42.  A nice profit.)

And now . . .

Meet Stella.  She’s 16.  I think you’ll like her.  I don’t want to spoil it by telling you what the 5 minutes are about.  Let her tell you.