Starting Gate is intended to represent a sort of schematic - an actionable plan - a follow-up as it were, to the Monthly Performance Summary. Where the MPS outlines what the portfolio achieved - or didn’t achieve, during the previous month - the Starting Gate post helps me summarize what I think I should do, might do and/or am considering doing going forward. It’s just like calling a play in the huddle (only completely different) allowing for the use of a variety of audibles being called which may be determined by how the defense (market) looks at the line of scrimmage. Pretty basic and simple stuff.
So currently this is the portfolio roster:
Intended to represent 65-70% of the Portfolio
B) The Bench
Intended to represent 20-25% of the portfolio
C) Scout Team
Intended to represent not more than 10% of the Portfolio
Recent Roster Reductions: Sold UPST and PLTR after really nice runs. Why? Two reasons: 1) Not really all that sure or committed to either of them; and 2) Belief that I will be able to add them back at a lower entry price in the future.
ZS - opened 5/31 at 131.47 with a current short term gain of +12.83%. Should sell but considering making the TB a permanent addition boosting the ZS core position.
IOT - opened 6/2 at 24.60 with a current short term gain of 13.48%. Have to sell this TB or allow IOT to gain Bench status - which might not be a really bad idea anyway. Decisions - Decisions.
ENPH - opened 6/2 at 153.57 with a current short term gain of 17.81%
BILL - opened 5/31 at 103.10 with a current short term gain of +8.39%
One of my semi strict TB rules is to not get greedy - and to sell promptly once the TB is profitable. Gain easy profit points quickly and repeatedly while allowing the core investment to provide the large longer term gains. Maybe getting a step or two slow in my old age. Dunno.
So given that portfolio roster and status - what to do now?
One of the reasons I am slow this month on posting Starting Gate is simply because I am not sure where I am going from here. It would be really comfortable to simply stay put for a while and allow the roster to work on its own. The fact that the All-Too-Lovely wants to summer out of country this year is a factor to consider - I have no idea how much oversight and/or portfolio roster coaching I can do while out of pocket. So theres that.
However, the major hold-up in laying out a June plan is simply the market itself. Add the AI All Stars such as I might be able to identify those that make some sense just now after the AI feeding frenzy - or consider that the AI pop was just laying a foundation for future gains? Who might the All Stars be -anyway?
The three that seem like rock solid companies with decent performance histories set to benefit and add value longer term. Perhaps take small Scout Team positions and add as the opportunity allows? That is possible. Or - just stay where I am currently with the team I have on the floor and wait for better opportunities? Dunno - but what I do know is that a confused mind says no. And thats exactly where I am.
The one thing I am most likely to do is demote GLBE to the Bench. Good company with a nice future but the roster might need a quicker point guard as a STARTER. Who that point guard might be is still to be determined although there are a wealth of possibilities.
So thats that: Not a very good June Starting plan at all - but it’s all I got just now. So far - we’re off to a pretty good start to the month and the market seems like it want to run. Wouldn’t be all the surprised by a slight pause or retreat prior to a continuing run into the summer. Could happen.
All the Best,