Benoit (@benoitz) header
Benoit (@benoitz) profile picture

15y in tech. Now investing full time. Concentrated portfolio, shared publicly. Co-founder of https://nitter.gq/t.co/AzVhdRPdQ1

Austin
Joined April 2009
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Portfolio update — Oct 31
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Me waking up after my most brutal week yet holding 25,000 shares of $IREN
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Portfolio update — Oct 17
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Monday I bought 1,000 shares of $IREN at $23.95 For once I thought I finally nailed the timing Today it closed the week at exactly $23.95 Apparently the market doesn't like seeing me in profit Sorry for dragging everyone down with me
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Bought another 1,480 shares of $BKKT today at $4.54 Now holding 26,484 shares @ $8.73 avg The stock keeps falling I keep averaging down Starting to wonder which one of us will give up first
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Added another 1,000 shares of $ASST today at $21.80 Now holding 12,000 shares @ $15.36 avg Another brutal day in the market Plenty of reasons to be nervous Still finding reasons to buy
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Receipt
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Yesterday was brutal Today looks even worse My entire portfolio is bleeding 25,000 shares of $IREN, back near the yearly low Months of buying Just a few weeks to end up deep in the red Holding through the midterms and earnings Let's see how much worse it can get
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I asked for gains, quick and bright, A rocket climb, a burst of light. I found $IREN and liked the play, I bought my shares and dreamed they'd pay. From fifty down to twenty-three, The market laughed and mocked at me. Each dip arrived, I bought some more, Then watched it fall beneath the floor. Twenty-five thousand shares still intact, I never sold. Imagine that. I asked for gains, a glorious flight, The market said: "Not yet. Good night." But storms must end, and light remains, I held through pain, now bring the gains. $IREN
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Waiting for my 25,000 shares of $IREN to do something Still 30% underwater
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Yesterday I bought another 1,000 shares of $IREN at $23.95 Usually the moment I buy, the stock immediately drops But somehow, it's going up I'm not used to this
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Added another 1,000 shares of $IREN today at $23.95 Now holding 25,000 shares @ $39.14 avg The past few weeks have been brutal Sentiment has turned extremely bearish I'm starting to think most of the bad news is priced in
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Receipt
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200+ neoclouds probably isn't sustainable. Consolidation makes sense. But fewer competitors isn't necessarily bearish for the survivors. Quite the opposite. The real question is who's positioned to come out stronger. My bet is on $IREN.
Replying to @chamath
Pretty much. As of the past few weeks, debt markets have almost entirely shut off access to money for any company that doesn’t have substantial revenue independent of AI data centers. SpaceX closed $40B of debt for GPUs, but we’re investment grade and have Starlink & launch revenue. That means the 200+ neoclouds are going to see guppy-level death and consolidation. Some will make it through, but not many.
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Me trying to survive another week holding 24,000 shares of $IREN
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$IREN got crushed again today Placed a buy order at $24.35 Still waiting for it to fill After buying at $28 last week I think I just locked the range Sorry
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Bought another 1,000 shares of $BKKT today at $5.30 Now holding 25,004 shares @ $8.98 The price keeps dropping I keep averaging down At some point, one of us has to give
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Receipt:
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Friendly reminder that last week I bought 2,000 shares of $IREN around $28. That created a major resistance level. To everyone waiting for $IREN to go higher: Sorry everyone, it's not happening.
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