As a long time fintwit member i’ve been caught up in the potential of Twitter stock since the IPO.

Since Jack Dorsey was hired every quarter when Twitter disappoints the common theme is to rag on Dorsey.  Before that it was to rag on Costolo.

For whatever reason we tend to attribute a company’s performance with thousands of employees to the CEO.  If a stock goes up and the business executes, we laud leadership.  If a stock goes down we trash leadership.  It’s just what happens.

In the case of Jack Dorsey, he is CEO of 2 companies in different businesses.  One is one of the leading stocks in the market, the other is a frustrating laggard.

dorsey

Is Dorsey a great or terrible CEO?  The answer lies somewhere in the middle.

One can say Dorsey must be ignoring Twitter and focusing on Square.  One can also say there are things Twitter can do to unlock value.  However, at a certain point one has to take ownership and accept that owning Twitter’s stock is one’s own error and not Jack Dorsey’s.

Maybe Twitter is just a great idea that is a terrible business at the wrong time.

On a somewhat related note, look at what Apple shares have done since Steve Jobs’ death.

aapl

Trade ’em well