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Portfolio Autopsy

Apr 02 2026

Spoiler alert: Just because a stock is 49% cheaper doesn’t mean it’s a bargain

A 49.18% loss is a brutal way to learn about “moat evaporation.” David breaks down why he walked away from Adobe and why “averaging down” is often just throwing good money after a bad story.

Written by David Thomas · Categorized: Insights · Tagged: Adobe, AI Disruption, Creative Software, Loss Management, Portfolio Autopsy, SIPP Strategy

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