Hey investors, I took advantage of the drop and bought $IREN 👀
This isn't a full-fledged investment. It's a speculative position, so 1% of the portfolio.
Why did I buy now and not after research? IREN fell 38% over the last half year and I consider the price around $30 an interesting entry. I didn't want to miss it just because I don't have everything calculated yet.
How I approach it:
- 1% is a deliberately small amount. Even if it goes to zero, the portfolio won't be threatened.
- It's a place in line, not conviction. Until I go through the numbers, I won't buy more.
- Tomorrow I'll post proper research to the community: business model, AI cloud vs. bitcoin mining, financing, risks and whether it becomes a regular position or I sell it.
I use this rule all the time. When something interests me and I lack research, I take a small position so I don't miss the opportunity. But a large position has to be earned by the company first. Speculation and investment are two different things and need to be kept apart.
Does anyone hold IREN? Write what bothers you or what you like about it. I'll include it in tomorrow's analysis 👇