I have decided to steer my blog in a new direction. While I have not sold my position in Moviepass, I have lost faith in the company. I believe Ted Farnsworth is unfit to run a public company and worse, the company and the Board have proven to be nothing less than hostile to common shareholders. Combining bad decision making, with a regular dose of dishonesty, Moviepass is a company that desperately needs a new CEO and new BOD.
I took down all my prior articles on Moviepass as I think some of them may actually be dangerous for investors. I don’t want people to follow me into HMNY stock. I don’t recommend the stock, and I think there is very little hope for the company. I am holding my shares because I committed to holding them for 5 years and because there is some very remote speculative chance that the company eventually pulls a Hail Mary. At some point in all likelihood, I will use my HMNY position for loss harvesting and it will all be over. A sorry consolation prize for speculating on a company with dishonest leadership.
In my next post, I will be laying out the themes I am excited about. After I lay out the theme areas, I will lay out a philosophy I think can work for investing in these areas – from there I will move on to specific companies I am buying. Hopefully, they will do one hell of a lot better than HMNY, although come to think of it, you could hardly do worse!
Remember –It is almost always better to simply buy low-cost index funds from a reputable company like Vanguard or Fidelity. Very few professionals consistently beat the market. In all likelihood, you will not beat the market. It can be fun to try!