SNAP now in top ten holdings

I’ve been watching the Snap price and chart for a while now as I wanted to increase my holding. This morning I added at 70.76 to bring this holding above the 5% mark. There is not a lot to say – I think my last position increase was Zoom which has been a rotten performer ever since its last (good) quarterly report. Things should improve there as we go over to hybrid working with more occasional office visits. Covid has shown us that we can free time for family and leisure by cutting down on long commutes.

A line of thinking that I have been following is that private client investment management has become so difficult because of regulation, especially in the U.K. Research needs to be written and bought in, then internal research buy notes created before people feel “safe” from non revenue earning departments who represent the regulators. So people are often “safe” to buy huge cap stocks like Apple and Microsoft, but everything smaller can become a risk to people’s livelihoods.

All a far cry from the days when well meaning brain dead clients returned paper stock powers and transfers unsigned. And a young man bouncing a rubber ball wearing two tone shoes and a bookmaker suit used to give us very good information on US markets.

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