3 Comments

Great write up Daan. I certainly share your concerns about Paypal's Moat and ability to fend off competitors. My fund holds a large position in Paypal, at least it was a large position before 2022. It is becoming increasingly difficult to look out 5-10 years and know for certain the type of moat and quality of earnings PayPal will have.

Expand full comment

Thank you! Indeed, visibility is quite poor on this one, mostly due to its questionable moat today. The only real positive here is that a lot of this uncertainty is priced in, making it a bargain, assuming management can turn the ship around.

Expand full comment

Thanks for the shoutout Daan, very kind of you.

Expand full comment