Bought small position in Clear Secure; speculative but has strong revenue/FCF growth and long-term upside potential.

So, I bought I bought Clear yesterday. Not a lot. This is a very speculative stock. The ticker is YOU. These are the things at airports that you walk past and they get you across the line faster.

They're trying to be a biometric identity company.

read Miller owns a few stocks besides Amazon, such as biometric security company Clear Secure, where he had been on the board. He said, quote, "I'm one of the larger owners. It's still significantly underpriced."

That made me feel pretty good. Bill Miller, not a bad investor.

So, we've got 21 straight quarters of revenue growth. Their EBID margin passed a key metric for them. They were targeting 35% at the IPO. It's now 36%.

Carrot Sab Becker, who I spoke first I first spoke about her chart off, please. I first spoke about buying her stock, which I never did when I did in March of 2025, I think it was.

She was on Patrick Ocean's podcast and I said, "This person is incredible. I should invest in her." And I never did. Um, I should have because the stock is up a decent amount since,

she said on the call uh last week, "We found it clear with a profound conviction that proving you are you are you securely, privately, and instantly would one day sit at the center of how Americans live, work, and travel.

For a long time, it was a vision. Now it is our reality. Clear is the trusted secure identity company. And after 16 years of building our identity platform, Clear Travel and Clear 1, we have never been stronger or better positioned.

It feels like day one around clear because it is driving book uh she said we ended this quarter with almost 44 million total clear members driving bookings of $296 million and free cash flow of $189 million 33% bookings growth and free cash flow is up 60% year-over-year

and they also did announce a deal after the close yesterday with Crowd Strike.

So the company is relatively small, $7 billion market cap, very volatile. Uh I bought a little today and I am probably going to add to it over the years.