• Ability to buy more ← This factor is balanced. If i buy more now it might get dis-balanced
• Ability to sell, upside ← This factor shows that i might want to increase a bit
• Portfolio allocation ← This factor is probably balanced or hints that i want to keep it like it is. This leaves room for higher ROI investments and security
• Risk & Return Profile ← The risk, return profile is very good and would justify increasing it a bit but again the position is already large

TLDR: MM: I see large upside with little downside. The largest problems would only be failed AI spend or overconfidence in the short run (not a large problem in long run) or that the stock is not going to outperform in the near-term as profits will stay the same and esp. if AI spend fails (not sure if we should think like this.) Apart from that risks would be only mainly things we did not foresee at all or black swan events (e.g. Zuckerberg dying etc. etc.) On the flipside not buying now leaves us with room to buy if AI spend indeed fails or 2026 guidance turned out to be overoptimistic.

• Aron’s questions