I don’t buy a lot of public company stocks. It’s just not what I do and so I don’t feel like I have enough information I would need to be good at it. But I have bought a few stocks over the years when their price just didn’t make sense to me for one reason or another.
There’s obviously one outlier there: the one non-tech company. Which today announced its aim to be acquired
by one of the biggest tech companies.
Obviously, all of those stock picks – aside from Twitter, so far – have done very well. But the Whole Foods one was a bit different – and yet not all that different. In WFM, I saw a stock descending towards 5-year lows, but rather than having fear about that, I saw opportunity. Yes, the numbers had been somewhat mixed, and yes, many other grocery chains were catching up in the organic food business. But Whole Foods remained a great brand that offered a great experience. My bet was they could turn things around or that someone else would step in to buy them. I never thought it would be Amazon, of course. But it makes total sense.
Anyway, just a little aside in waking up to that news today. I still could not be more bullish about Amazon
(though I don’t own their stock because again, I don’t typically buy public stocks!). And it seems pretty clear that it wasn’t an accident to announce this on a day when Walmart, their chief non-tech rival, also announced
a big acquisition of their own.