Which company in your portfolio excites you the most. I've come to the conclusion that it is Square $SQ

Building the greatest and most inclusive financial ecosystem to serve all needs is a vision I can get behind 100%.

For years, Square was on my Watchlist. Finally COVID presented me with an opportunity to buy at rock bottom prices in March.

I always valued their ecosystems ~$20b each. Got in at an EV of $15b. Now it’s at $45b, and in my opinion, fairly valued.

One ecosystem lets sellers start, run, and grow their business. The other provides all-in-one financial access, allowing anyone to send, spend, and save money.

Immediate future growth will come from lending activities and CashApp, the superstar of their portfolio, and ultimately combining the PoS ecosystem (sellers) with CashApp (buyers) in ways we can’t imagine yet.

CashApp keeps growing and lock-down stimulus payments helped accelerate installs.

Square is an efficient company with a Rule of 40 of over 50%. Up from 30% two years ago. ~40% of that is revenue growth, meaning the company has already achieved solid Free Cash Flow. ~$480m TTM.

Would expect Gross Margin to grow >40% in the future.

I will keep adding to my still relatively small position as opportunities arise.