3 Stocks I Bought This Week
One of the best characteristics of dollar-cost averaging into positions is that it removes the need to time a purchase flawlessly. For example, had I only made one large purchase of Upstart (NASDAQ: UPST), Coupang (NYSE: CPNG), or Etsy (NASDAQ: ETSY) late in 2021, I would need monstrous returns to break even.
However, by making small bets on these names throughout the last couple of years, I lowered my cost basis, building out properly sized positions to be held for the next decade and beyond. Continuing with this dollar-cost averaging, I've added to each of these three companies again this last week. Here is why I chose these three right now.
1. Upstart: Short-term struggles, long-term promise
Due to the macroeconomic volatility surrounding Upstart's AI-powered credit assessing operations, this is a smaller, speculative add for me in a company with massive potential. Facing rising interest rates and lower personal savings rates, Upstart saw credit defaults rise, putting immense pressure on its financials.
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