It’s about time that they got at least a touch smarter about wireless. In the end, I am wrong about Starbucks and have been wrong since my first buy at $26. With my average on a bigger position now in the low 20′s, I am scooting.
The other day I was in a Starbucks in a different part of town. It was one of those marginal ones, barfed out during the late stages of the real estate boom. I might as well have been drinking coffee in old Communist Russia.
I hope blowing it out tomorrow is the bottom for every other holder. It has happened before. Too many growth ideas in the private market for me to be messing around with a bad idea and I have major spring cleaning on the mind after working with Ellen on our closets at home all weekend.
Disclosure – Long Starbucks…till tomorrow