$1 Party Redux, page-129

Well, let's see? I'm down 10%, but I slept a lot better at night than most Zip holders did as 200 companies can't possibly go broke or decline some 90% in value.

My ETF gave me a $28k dividend in the March quarter and I bought myself a business class ticket to Canada. I then got a $31k dividend (plus another $10k from my S&P 500 and Small Ords ETFs) in the June quarter and went to the Fairmont Banff to enjoy some champagne. With Rio, BHP and CBA set to announce monstrous dividends, I'm looking forward to another big fat check in September.

Bottom line, I didn't lose sleep at night. Hell, I don't even log in to my accounts until I get a dividend notification because I don't care what happens to the capital price of an ETF.

I'm not the type of bear who will go away just because Zip's share price tripled in 3 weeks. This stock fell from $10 - it's been nothing short of a disaster. You got paid ZERO to wait, but received ALL the stress and mental anguish. The only people who are making money on this are the momentum traders/risk takers who had no previous Zip holdings before, and decided to buy below $1.

Many of you bought at $3 and above and at best are averaging down your losses or sweated bullets playing with your life/wife's savings buying this at 50c. That doesn't make you a hero or smart, that just makes you clueless and lucky. More of you capitulated and bailed at massive losses because you couldn't take the pain. This company still has enormous headwinds and no structural/scale advantage when faced against Apple, Afterpay, Klarna etc.

You may have been saved by the Fed signalling central banks' are taking their foot off the pedal today or Powell's comments that a US recession is unlikely, but that doesn't suddenly mean this business isn't garbage.