Core Insights - The article expresses a bullish sentiment on Snap (NYSE: SNAP) after its significant decline of 90% from all-time highs, indicating a long-term investment perspective [1] - The author emphasizes the importance of personal investment strategies developed through deep research and independent thought, rather than conventional trading approaches [1] Investment Strategy - The investment approach includes identifying opportunities that exhibit asymmetry, which can lead to significant returns [1] - The strategy also focuses on finding cost-effective hedges to protect the portfolio, enhancing risk management [1] - The analysis includes seeking low correlation stocks that provide diversification and potential for substantial growth [1] - The author advises avoiding stocks that do not present an attractive risk-reward profile, indicating a cautious approach to investment selection [1]