Britain's Warren Buffett Completely Sold PayPal: Should You?
As the undisputed leader in digital payments, with acceptance at 79% of the top 1,500 retailers in North America and Europe, PayPal (NASDAQ: PYPL) saw its business grow like wildfire during the pandemic. Payment volume, active accounts, and revenue surged in 2020 and 2021.
But it's been a different story lately. With growth slowing, the stock is down 76% from its July 2021 high -- and one legendary investor has completely exited his fund's position in the fintech leader as of the end of 2022. Should you do the same? Let's take a closer look.
Terry Smith, who many call Britain's Warren Buffett, adopts a similar investment philosophy as the Oracle of Omaha. This means exclusively focusing on the best businesses out there that possess competitive advantages and can compound capital at high rates over long periods of time.
Source Fool.com
