Investment Thesis
Earlier this month I noted the following about Pinterest (PINS),
Nobody is questioning whether or not Pinterest is an awesome company; least of all me. I'm simply presenting the facts that Pinterest's valuation remains prohibitively expensive and that investors should sidestep this investment, for now.
While that article focused on Pinterest's valuation and use of free cash flow, this article highlights why Pinterest's underlying strategy is doomed to fail.
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Investing Through Common Sense
The purpose of investing is to deploy capital today which should appreciate in value over