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what is going on guys luke here today to talk about the massive snowflake ipo and it would also appear that warren buffett has come out of his hibernation and is back in a big way this is the biggest software ipo ever you know in the midst of a pandemic and chaos seemingly everywhere i'll give you my thoughts on this on ipos in general but even more importantly than that i'll tell you if you need to jump on this train now before it's gone forever so let's get started right now welcome back everyone in this video we will cover a quick review of my thoughts on ipos why snowflakes shot up so big and if i would buy snowflake stock now or not and if you are new here yes i do wear my shades in the dark because it's fun and there's no reason why we cannot have fun and build real wealth so like the video if you you know like to make money if you're into that sort of thing and it also really helps the channel now let's dive into this a quick review of my thoughts on ipos now full disclosure i have never been a fan of ipos after cutting my teeth in stock investing in the run up to the tech bubble i know all about high-flying ipos and can't miss companies that you know well miss ipos are really volatile the companies can be iffy sometimes there's more hype than substance and performing as a public company is completely different than as a private company there are some businesses that are just meant to stay private and thrive in that environment throw them into the public realm and they just wither they're just too many unknowns for my taste in my opinion from my portfolio my goals and all those good things that we discuss here on this channel now having said all of that this market is just bonkers i know i keep saying this but if you just started investing this year man did you ever choose a crazy year to start investing when the market goes back to normal guys like me that have been doing this forever will be relieved and people that started investing this year will be so confused you might even just be bored because this year has been that crazy so in an effort to be the best investor i can be i have to adapt some to meet the market so i'm forced to look even if i don't like it because you have to adapt to the market something that didn't make sense last year i absolutely have to consider this year and possibly even trade on it this year thank you 2020 why snowflakes shot up big in my opinion i read several articles from wall street folks who cannot figure out what is going on with this ipo but i think i have narrowed it down a bit for them you know they're the experts but whatever i believe there are two big reasons why i jumped so high so fast check that maybe three now that i think about it the first it's an ipo this was by far and away the biggest ipo of the year and with so much free money floating around chasing yield it makes sense that some of that money would bet on snowflake now the second that would be the retail investor look wall street doesn't like it but the risk appetite is really high right now for retail investors and even more disturbing to wall street is there are enough retail investors to influence prices remember we do have the highest percentage of retail money in the market there has ever been and large investors have their biggest cash piles ever sitting on the sidelines until that cash moves into the market retail investors will continue to have influence in the market and the third warren buffett warren buffett has pretty much done nothing this year except cut losses he has made a few peculiar bets but he is one of the ones sitting on hundreds of billions of dollars in cash but he took out a stake in snowflakes ipo something that he has not done since 1956 when he bought ford's ipo think about that for a moment 1956 was the last time he did this and it was ford this buy by berkshire has really boosted the perceived quality and soundness of snowflake so that absolutely has caused money to flow into the stock now i try not to trade against buffett i mean his record versus all of ours combined i would say he wins it's game over he knows what he's doing now let's answer the question would i buy snowflake or not now remember this is my opinion and it's for entertainment purposes only do not listen to me so this company is actually exciting it has the perfect mix of high growth it's a cloud-based tech company which in you know this whole illness environment is all the rage and all those type companies are doing incredibly well right now and it has warren buffett behind it so it brings even more than just speculators into the stock but let's talk about the four major drawbacks i see the first it was valued at 12 billion in february and now it's valued at over 40 billion what exactly did it do other than go public to justify a forex jump and valuation second it still loses hundreds of millions of dollars every year they are a minimum of five years away from turning up profit minimum in my opinion so this is not really a solid growth stock it is still a high growth to speculative stock in my opinion and the third by a lot of metrics you use this is the most expensive tech stock out there looking at the biggie market cap to sales which is how you have to value these thai companies since they don't have any earnings yet is higher than zoom which was the previous leader at an 87.
but snowflake's number is over a hundred and seventy that is just crazy the fourth yes warren buffett invested but he did not pay retail pricing berkshire's position included 250 million dollars worth of snowflake shares purchased at their ipo price and the rest of the state consisted of stock bought from another shareholder at snowflake's debut price we meaning me and you did not get those prices and now warren has more than doubled his money and we are paying a premium so even if the stock drops 50 percent he is basically break even but we are screwed but hey it's 20 20 so who knows what's going to happen it may just rock it up to 500 either way i don't want to ride that roller coaster so this is a hard pass for me for all the reasons we just talked about so thanks for watching and if you want to work directly with me check out the first link down in the description and i will show you how to create a plan set defined goals and how to analyze a stock and build real wealth and don't forget to sign up for weeble so you can get a free stock worth up to sixteen hundred dollars when you deposit one hundred dollars and show your support for the channel by liking the video and follow me on all my social medias i have so you can watch me epically fail on all of those thanks you
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