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No. of Recommendations: 12
SE is my largest position since last April at >10%. SE has the pedigree, backers, management, and legs to perform for a long time.

SE just regained my portfolio's top spot (14.9%) from Pinterest (14.5%) with its performance today.

Regarding its banking license, you hear so much about how companies like Paypal and Square are changing the way people bank, but its still hard to believe HOW MUCH its changed for Gen Z. Not many younger people have traditional bank accounts, all their transactions are done through Venmo and Cash App. If this shift is global, then Sea's win today is absolutely huge for their fintech division, especially with a young, digital savvy Asian population. They have the unique opportunity to be at the center of ALL discretionary commerce in Southeast Asia, starting in Singapore.

Some extra details about today's banking license decision, courtesy of TechCrunch (I didn't realize that Ant could only serve businesses while Sea got everyday consumers):

Like traditional banks, Grab-Singtel and Sea will be able to offer customers banking accounts, debit and credit cards and other services. Digital wholesale banks — the licenses of which went to Ant-owned entity and Greenland Financial consortium — will serve small and medium-sized businesses. None of them will be required to have a physical presence.

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