Hi Pavlos, Thanks for that excellent write-up of Upstart. I especially agree with this thought,
As we all know speed is as important as anything else. You come up with an idea and if you don’t execute it fast enough it will be more detrimental to the health of your business than if you executed the plan perfectly but at a later stage. At that stage you might not be relevant anymore, the competition might have caught up, or someone else might have come up with a better solution altogether.
Do it fast instead of perfect, and then fix anything that needs fixing. Cloudflare specializes in that also.
Just for disclosure, I bought UPST at $80, $120, $140, $160, $180, $200, $280, $300 and $330. Some might call this chasing the stock and find it risky as a strong pullback will have you in the red. [on the most recent purchases only]
Just in the past two weeks or so I also added at $290, $295, $315, $323 and $335, now it’s about $380. I know otherwise very excellent investors who sell because the stock has gone up. (“Valuation is too high now!”) I just can’t understand it.
I had trimmed my position in Cloudflare down to a regular position from one of my largest because I couldn’t understand why growth wasn’t accelerating but the stock price kept going up. I know people who completely exited it, (Again, “Valuation!”]… But then when they announced their most recent suite of products I built it back up to my third largest. In the last two weeks exactly it’s gone from $112 to $165. That’s up 47% in two weeks. Wouldn’t you feel silly if you had gotten out to try to time it and buy back $10 cheaper???