A few years back when I lived and worked in Downtown Los Angeles all of us residents talked about how DTLA would eventually be booming. We knew that there would be much more to do, it would be cleaner, safer, and more inclusive than it already was. That was five years ago and we are JUST now seeing all of what we knew was going to come. Now DTLA has the tallest building west of the Mississippi River, multiple luxury apartment complexes, new restaurants, parks and much more is still being built.
When you are aiming for wealth you have to be able to see the things that nobody sees. Sometimes you see them well before they manifest. But because change creates millionaires it is up to you to get in on the ground floor and hold on when all the reports and noise are saying that you are making a poor choice.
A lot of the times people will talk about how much money $1,000 worth of Netflix would be worth today if you bought it back when they first started. Or they talk about how much bitcoin would be worth if you bought it back in the early years. The problem is that around that time, its ugly. Everyone hates it, there are obvious proven winners that outperform the new idea and in all honesty the brand typically doesn’t look like it looks today.
This is important when it comes to companies like Under Armour and Snapchat. Under Armour is a company that I believe we spotted well before they are who they really can be. The thing is that this is the Nexflix time to go all in or hold Under Armour. The thing we have to realize is that it might take the same five years it took DTLA to become the new DTLA for Under Armour to truly be what I believe they will become.
Its easy to buy Netflix now but it was hard to buy it when all they had was hopes and dreams. Even if you believed in what they were doing there were so many “realists” shouting it down that MOST people didn’t want to hop in. You don’t make money investing by buying what the masses are buying. You buy what they hate and watch it become great.
You will see that our Under Armour is down significantly but we are still profitable because all of our other winners. This, along with the ideas discussed above, are why I believe we should continue to hold Under Armour and let it ride out. If we are really bold you might even buy more at this share price, I did.
Be great, and invest well,