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Subject:  Re: Bert's take on Square Date:  8/23/2019  10:33 AM
Author:  CMFJambo Number:  58896 of 60813

Read while publicly available.

Or read as a Bert subscriber...on this one only a day earlier unless I just got on Bert's email list late. I had already added to SQ myself earlier this month at $62 and change and added for my daughter's Roth too.

I am very pleased with my new-this-week subscription to Ticker Target and thankful for the contributors here. This article helped my confirmation bias...or maybe I'm a big believer in the power of the SQ eco-system. I have friends and relatives in the restaurant biz and have by all accounts circumstantial evidence that SQ system is best quality and more importantly easiest to use.

Bert's paragraph on FedNOW is also reassuring. But his assesment of GPV is spot on:
I imagine the decline in GPV growth to 24% has been the most significant factor in the under-performance of the shares in since the earnings release.

He goes on to state that SHOP for instance grew large customers in order to get their GMV up. SQ still has a concentration in small to medium customers. That's the SQ forte. S&M expenses (and use of the Caviar money here) will increase and with that larger customers? or maybe more med-small get on-board through more attractive selling efforts.

I'm still ok with 24% growth here but like the probability that SQ is sandbagging a bit.... and think the market will come around in a quarter or two...just my opinion.

Long SQ + kickers... Can't use the o-word here :-)
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