With extraordinary fear that this post will come off new-ageish or OT, Monkey nonetheless has this to say:

  1. We do the work to find the best growth businesses we can, with the greatest runways. Saul’s strategy has worked cumulatively over a long, long time. This time is not different.

  2. But this time, these past 6 months and past few weeks, and past few days, have been some of the worst that investors who use this strategy have had to face since either 2020 or 2008.

  3. Please remember that it’s these periods where the most important thinking we can do has more to do with non-thinking: it’s how we behave and how we refrain from panicking that will make all the difference. The analytical work is predominantly in the barn, for the time being, as it were (UPST’s results this afternoon being a key exception). But it’s the behavioral and character work that’s most important right now.

  4. We have, over many years, developed a staggeringly generous, intelligent, experienced and trustworthy community on this board. We all care about stocks, but we also care about caring for our well-being and for the focus of this board.

  5. Let’s turn to each other as allies. It is so much easier to avoid cataclysmic investing mistakes when you pause long enough to ask and share “What is Saul doing? What might StockNovice be doing? What might X,Y,Z be doing? And why might they be not doing this? (Hint: Selling). What might I therefore consider doing if I opt not to panic?”

  6. Some businesses will die.

  7. Will CRWD and ZS and DDOG and SNOW be one of them? No. Because the metrics are too good and the future of the world needs what they offer. That’s a simple framework but it’s enough. (Humble request to anyone with some time on their hands: can we get a table with Free Cash flow margins and a kind of ranking in terms of operating “safety”?

  8. Therefore, the prices we’re getting today will be gobsmackingly lucrative compared to what they will be in 2027, if you can imagine your portfolio that far away. But, you know how life goes, 5 years is a long time… and it’s here before you know it.

  9. We’re all in this together, whether you realize that or not; but if you do, it makes turning toward one another not only a salve for all the pain and bruising, but because we do our best thinking together.

  10. This too shall pass.


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