I added more to my position today in Facebook Inc (FB) at $157.73.
Now my 7th largest holding. I still think at this level, it’s a great opportunity.
The recent pullback again brings the price to lower than my previous purchases. I imagine this is due to recent issues with hacked accounts, more spending on security/privacy which will lower earnings in the short term and of course the data leak scandal. I believe the fears are overblown and this poses a good opportunity.
I mentioned in the my previous post/purchase that if the price should continue to drop, I would consider adding more and that I would be willing to double my then current position. That’s what I just did today. This purchase doubles my total holdings in Facebook.