Bought yet more Meta. Again. At this point I think we can officially call it a habit. I topped up Meta a few days ago alongside Palantir and VHYL. I topped it up again earlier today. And now — here I am, logging back into Trading 212 and buying even more. Someone should probably check on me. Or send more capital. Either works.
I'm joking, but only partly. The compulsion to keep adding to Meta isn't a bug in my psychology — it's the natural result of finding a business you believe in and watching it execute. Every quarter, Meta reports numbers. Every quarter, I read them. Every quarter, my conviction either strengthens or weakens based on what I see. And for the past several quarters, it's done nothing but strengthen. 3+ billion daily active users across Facebook, Instagram, WhatsApp, and Threads. An advertising infrastructure that gets more precise every time someone scrolls. An AI build-out — data centres, custom silicon, open-source LLMs — that's creating a moat most competitors can't match. Tens of billions in free cash flow. A balance sheet with more cash than debt. And a management team that's demonstrated they can adapt — from the mobile transition a decade ago to the AI transition now.
I've written the full thesis in my other Meta posts, so I won't repeat it all here. But the short version is: I keep buying because the thesis keeps holding. The advertising business is a cash machine. The AI infrastructure spend is building a wider moat every quarter. The user base — 3 billion people every single day — is an engagement dataset that no competitor can replicate. And the stock, while not cheap after its recent run, still doesn't look expensive relative to the cash flows it generates and the durability of those cash flows. I'm not buying because I think Meta doubles next year. I'm buying because I think it compounds for the next decade — and at 66, a decade is a perfectly reasonable time horizon for the SIPP.
Yes, it's becoming a habit. Yes, I'm aware that I've written three Meta-related buy posts in the space of a few days. No, I'm not going to stop. When you find a great business at a reasonable price — or even a fair price — the rational thing to do is buy it. The irrational thing is to hold back because you're worried about how it looks to have yet another 'I bought more Meta' post in the archive. The archive exists to reflect what I actually do, not what looks balanced or diversified on paper. And what I actually do is keep buying Meta.
As always: this is what I did with my own money. Not a recommendation. All investing carries risk. Individual shares carry significantly more risk than diversified funds. Meta faces regulatory risk, advertising market cyclicality, competition from TikTok and others, and the risk that AI spending doesn't deliver expected returns. Do your own research.