hey everyone, Wonton Investor here. quick update on where things stand. my portfolio is up around 15% this year, while the nasdaq and the S&P 500 are both up around 7% as of writing. and that's after a pretty ugly drawdown along the way (if you've been keeping up with my COIN position and the recent markets, you should know how bloody the market has been lol) i'm not saying that to flex, because one good year doesn't make anyone a genius, and i've had my fair share of bad calls. i'm saying it because i haven't posted much this year, and i want to explain what i was doing instead: reading and analysing a lot. earnings calls, filings, newsletters, and a lot of writing down why i own what i own. so from now on i'm going to pen those thoughts down more regularly, with dates on everything,

Introduction Hello to everyone reading this blog! I’m the The Wonton Investor and this is gonna be my first blog post. In case you haven’t read my bio, I am a Singaporean student studying Computer Science who loves tech, finance, and, of course, wontons. I’m here to share my investing journey and the lessons I’ve learnt over the past 4 years of investing, and also personal finance tips on how I gather capital for investments as a uni student! I have invested across many types of financial instruments, including stocks, t-bills, crypto, bonds, options, NFTs - you name it, I’ve tried it! I have also tried many things from building my own startup/online businesses to doing Venture Capital and Software Engineering internships. This will be my first blog entry as The Wonton Investor, and I wann

Hey everyone, Wonton Investor here. Let's talk about Coinbase. A few months ago, I laid out my thesis on $Coinbase Global, Inc.(COIN)$ . I saw it as a fantastic, foundational company, but one that was ultimately a cyclical stock. My whole strategy was built around the idea of: wait for the inevitable "crypto winter," for sentiment to sour and the price to drop, and then buy the dip on a great asset. Today, I'm back to talk about that thesis. But I'm not here to rewrite it. I'm here to tell you I'm doubling down. Everything I believed about Coinbase's fundamental strengths is not only proving true, but the recent turn of events suggests that the boom of Coinbase - one that I previously thought was cyclical - is now seemingly leaning towards be

For some time, I’ve been analyzing Coinbase ($Coinbase Global, Inc.(COIN)$ ) as a potential investment through the lens of Peter Lynch's insights on cyclical stocks from One Up on Wall Street. Cyclical stocks, as Lynch emphasizes, are all about timing. The key is to invest when they're undervalued during a down cycle, but only after confirming they are genuinely cyclical. So, why do I see Coinbase fitting this profile? First, Coinbase has a significant regulatory advantage. As one of the few cryptocurrency exchanges regulated by the SEC in the U.S., and with established partnerships with banks for crypto services, Coinbase essentially operates as a crypto clearinghouse with minimal competition. This strong position could become even more valu

2024 was the year I started learning to trade options, and thanks to a few mentors, I have made significant improvements in my portfolio.  I first started learning investing in 2021, where I made many mistakes from the meme stocks frenzy. I lost a lot of money back then, and couldn't recover it. I was on a slow path to recovery in 2023 when I started learning to buy proper stocks more, investing more wisely and generating a better portfolio for myself.  However, the real life changing moment was when I learnt to value invest alongside stock options trading. Value investing has brought me good long term returns, but during bubble markets where you cannot invest in any value, stock options trading is where I turned to to continue making money.  I want to thank 2 very influenti

Coinbase reported Q3, so here's the full rundown and how my 3 tells did. the headline numbers: net revenue was $1.16B, basically flat on last quarter but down 34% on last year. transaction revenue was $590M (down 44% YoY) because consumer spot trading volume fell 59%, and monthly transacting users dropped to 7.4M from 9.3M a year ago. subscriptions and services held up better at $570M, which is now 49% of revenue, so the diversification story is actually showing up in the numbers. the new stuff is doing real work. prediction markets only launched in February and already passed a $200M annualised run-rate, and together with derivatives they're now about 25% of transaction revenue. trading market share went up for the 4th quarter in a row to 10.7%. the not-so-new stuff is weaker: staking (bl