Dateline: Sierra Gold, Las Vegas, NV – With a combined BAC of 0.16 and most of our attention focused on applying “fuzzy leopard style tattoos” to the cleavage of our waitstaff, we decided to make some trades (Will would be subject to a libel suit if we actually did remove “drunken” from our motto). I thought it might be a good idea to record our rationale so we can look back a year from now and figure out why we lost everything.

Unit value at the time of these trades: $153.769

Purchased 455 shares of Apple at $437.60

The conversation went from “Apple is not the type of stock we want to own anymore” to “the recent selloff was a complete overreaction” and then finally after the 3rd round of Patron, we settled on “Fuck it, lets buy $200,000 and show this market just how stupid they are.” The idea here is to capitalize on an irrational dip before we sell of most of our position in a company whose story has changed. After some convoluted suggestions about voting on exactly when and at what price we should sell or talk about selling, we decided to settle on keeping a close eye on it and scheduling a Skype meeting when one of us is ready to sell. We’ll see how that goes.

Sold 265 shares of Google at $751.76

This was sort of the opposite thinking of our Apple purchase. We feel like after a big run-up, now might be a good time to peal off a big chunk of our Google position for investing in other places. We still like Google enough to keep a 1/2 million dollars in it, but not enough to justify 3/4. Something like that. The reality is, there wasn’t a whole lot of discussion about this trade. It might have been heavily motivated by a desire to free up cash for the Apple purchase, but dollars don’t have names. Reno Hog Caller, A-II-3… your favorite EMBOW cliche here.

Purchased 3,330 shares of InvenSense at $15.1192

Doug’s former employer and maker of gyroscopes and accelerometers, InvenSense is in a hot industry and we hope they have enough of a moat to keep growing like they have been recently. It sure would have been nice if we had paid attention to Matles on INVN a few months ago when it was at $9. A huge earnings report and some positive pub later and we’re finally buying at $15. We all agreed that the upside of INVN is worth paying 30 times earnings now.