RDDT (Reddit, Inc.) — Execution Log (post-hoc) #
Status: OPEN. Thesis written post-hoc on 2026-09-02: RDDT_thesis.md + RDDT_plan.json
(verdict: good business with a Google dependence and an insider pattern that fails the owner's rule;
fair, not cheap; HOLD, no adds above 133, trim on rungs 200 / 255 / 300). Logged from the DEGIRO
confirmation in Gmail; the buy was not recorded in the ledger at the time. This log is the audit trail
(rule-002).
Position #
| Field |
Value |
| Fill |
2026-08-27 15:54:26 CET, limit, BATS |
| Shares |
5 @ USD 156.88 |
| Value |
USD 784.40 = EUR 673.14 @ FX 1.165293 |
| Fees |
EUR 3.68 (AutoFX 1.68 + transaction 2.00) |
| Total cost |
EUR 676.82 (ledger cost_eur) |
| Order id |
55b714ce-8f6c-42c6-930c-2195b6f142d6 |
| ISIN |
US75734B1008 |
| Funding |
Aug 27 deposits + AIG exit proceeds the same afternoon |
Process check against CLAUDE.md (2026-09-02 playbook) #
| Rule |
Status |
| rule-001 attention is late |
Bought the day of the decision; no entry alert had ever been set. |
| rule-003 good? |
Not assessed. The playbook's own SBC example: early-2026 data had reported FCF USD 684M vs USD 341M SBC-adjusted, P/FCF 42x → 84x. Needs a fresh check. |
| rule-004 cheap? |
Not assessed. No Graham sensitivity table, no implied-growth check. |
| rule-006 sizing |
EUR 677 = 21% of the single-name book; inside the EUR 250-750 band. |
| rule-007 same-day red-flag check |
Not run. |
| rule-008 exits |
Ladder set 2026-09-02: RDDT-TP1 200 / TP2 255 / TP3 300 (sell 2 / 2 / 1), review level RDDT-REVIEW133. Six fundamental kill conditions in the plan. |
Log #
- 2026-09-02: thesis and plan written after the fact. Fair-not-cheap verdict; EV/price 1.00. Insider
test fails on the owner's rule (CEO and COO 10b5-1 plans enlarged May 2026). Placeholders replaced by
the ladder above. Next print ~2026-10-29.