Bought more Meta in the Trading 212 SIPP. Yes, again. Yes, I know there are already three Meta buy posts on this page. No, I don't care. The thesis hasn't changed and the conviction hasn't wavered, and when I had a little more capital to deploy this evening, Meta was still — still — the most obvious place to put it.
I could write another thousand words on why. The advertising business that prints cash. The AI infrastructure spend that builds a wider moat every single quarter. The 3 billion daily active users whose engagement data makes the ad targeting better every time they scroll. The fortress balance sheet with more cash than debt. The management team that's demonstrated they can navigate existential platform shifts — from desktop to mobile, from newsfeed to Reels, from traditional ML to generative AI. But I've already written all of that. Multiple times. Today.
So I'll keep this one short. I bought more Meta because I believe in the business, because the valuation still doesn't look stretched relative to the cash flows, because my time horizon is measured in years not weeks, and because the alternative — sitting on cash, waiting for a pullback that may not come, overthinking a decision that doesn't need to be overthought — is how you quietly erode purchasing power while the market moves on without you.
The position is still sized appropriately. It's a conviction holding, not a bet-the-pension concentration. But within the satellite portion of my SIPP — the part where I express conviction rather than just tracking the index — Meta keeps earning more capital. The habit continues.
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, and competition risk. Do your own research.