Hon Hai Precision Industry Co Ltd
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Based in Taiwan, Province Of China
Company profile

Hon Hai Precision Industry Co Ltd is a Taiwan-based company mainly engaged in the provision of various connectors, housings, radiators, assembled products and related products related to the information industry, communication industry, automation equipment industry, optoelectronics industry, precision machinery industry, automotive industry, and consumer electronics industry, as well as the manufacture and sale of network cable assembly and other products. The Company's products include components, modules and system assembly products in the fields of computers, modules and consumer electronics (3C) electronic products. The components include 3C connectors, wire-mounted products and other components. The modules include mechanical modules and electronic modules. The system assembly products include assembly of finished products of 3C products. The Company operates businesses in domestic and overseas markets.

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He began buying Tesla at $7.50, and now he's retiring at 39 years old with $12-million worth -- he still refuses to sell a single share

2:07 pm ET January 11, 2021 (MarketWatch)

Shawn Langlois

Don't try this at home kids.

While just about every financial planner out there continues to espouse the "diversify" mantra, particularly as the bear market pushes deeper into uncharted territory, Jason DeBolt, a former Googler (GOOGL) and current Amazon (AMZN) employee, has taken a decidedly different approach.

Like other outspoken "TSLA-naires" before him (https://www.marketwatch.com/story/holy-smokes-im-a-tsla-naire-heres-how-quickly-tesla-has-turned-modest-investments-into-seven-figure-windfalls-11608825106), DeBolt took to social media last week to celebrate in his massive Tesla (TSLA) windfall, as the stock was in the midst of an 11-session win streak.

His tweet went viral:

While Tesla bulls cheered, other, more conservative types, winced.

Ben Carlson, portfolio manager at Ritholtz Wealth Management LLC, acknowledged pangs of jealousy when he comes across stories like DeBolt's, but the approach just isn't for him, nor should it be for most.

"I'll never put my life savings into a single investment that could go to the moon," he wrote (https://awealthofcommonsense.com/2021/01/its-ok-to-build-wealth-slowly/). "But being a diversified investor means I'll never put my family in the position of being completely wiped out by a single position."

Read:'Big Short' investor says his big Tesla short is getting 'bigger and bigger' (https://www.marketwatch.com/story/big-short-investor-says-his-big-tesla-short-is-getting-bigger-and-bigger-11610313191)

DeBolt, however, is 39 years old, doesn't have a wife or kids and is more than willing to ride the ups and downs. He's already been through plenty with his Tesla stake -- he lost $1.3 million in one day last year -- and he doesn't appear to be sweating potential drawdowns in the future.

Ramp Capital, a popular anonymous financial blogger (https://www.330ramp.com/blog/2021/1/11/the-tesla-multimillionaire-who-refuses-to-cash-his-lottery-ticket), found his story "captivating" because of DeBolt's "grit and determination to buy and hold through thick and thin -- while having faith in a single company and god-like CEO in the face of all odds. "

So Ramp reached out and asked DeBolt if he was concerned that Tesla is in a bubble after its nosebleed rally in 2020.

"No, I don't think so. The energy and transportation sectors are being disrupted, and Tesla's stock price reflects that," DeBolt explained. "I think we could eventually see $20,000 to $30,000 per share by 2030 if they can execute, assuming no more stock splits."

He said he currently owns 14,850 Tesla shares at an average cost basis of $58 each. His first purchase was 2,500 shares at $7.50 in 2013. That batch is now worth about $2.2 million, he said.

"This company is just getting started," DeBolt told Ramp. "We might not see a company like Tesla in the next 50 years."

The TSLA-naires were having a rough session on Monday -- a rarity lately -- with shares down about 6%. The broader market was also under pressure, with the Dow Jones Industrial Average , Nasdaq Composite and S&P 500 all in the red.

-Shawn Langlois; 415-439-6400; AskNewswires@dowjones.com


(END) Dow Jones Newswires

January 11, 2021 14:07 ET (19:07 GMT)

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