What I Am Buying Today.

[fenders53]

I agree on valuation. The market can be silly. Just look at Unity. Who is insane enough to pay those infinity multiples?

I'm kidding. Unfortunately we are usually forced to pay a premium for any new company with a chance of being a good long term hold. I doubt ABNB will ever be a core holding. They can't help that we had a pandemic just months after they launched so it will take some time to assess fundamentals.

I did find your debate with Otter compelling, especially when the stock was trading 20% higher. I am not a worldly traveler like you are but the ABNB destinations in my region are excellent, with outstanding hosts. You can rent a nice vacation home for the same price as a half worn out chain hotel room. You aren't saving money but the scenery and amenities are better around here. My wife and daughter become buddies with the host, and then I have to help clean it better than my own home after paying a cleaning fee anyway. We left that place visited in December shining like a new dime. The cleaning staff, if they even have one, probably hung out on the deck for an hour. So there's a downside.