One of my first individual shares leaves my portfolio.
$SBUX (-0.65%) I bought about 7 years ago.
Bring a little coffee (material input in the cent range) to the market at top prices and people are queuing up.
The money man likes that.
But Starbucks has lost its luster in recent years.
The easiest way to save on coffee is to make everything more expensive.
China expansion as a growth driver is turning out to be a pipe burst.
So actually a turnaround investment by now. But the valuation is far too high for that.
The new CEO must first get the problems under control. I'm not taking my chances and am selling with a nice 100% gain.
... Although the fees are ridiculously high from today's perspective. What can happen in 7 years...
