In rereading my post # 44062 entitled Why My Investing Criteria Have Changed and Evolved, which Growth Monkey so kindly linked to, and which I had written back on July 15, I was really struck by my PS at the end of it:
the Dow is up 1.2%,
the S&P is up 4.4%,
the Russ is up 8.3%,
the IJS is up 8.7%,
the Nas is up 13.4%,
the five indexes average up 7.2% so far this year.
Compare that to my 58%, and to your own results. We are riding that revolution I was telling you about.
Now, as I said, this was July 15. From then to the end of the year the average of those five indexes fell a rather remarkable 15.7 points (from up 7.2% to down 8.5%). That’s a bunch! It qualifies as a full Correction in itself! That’s just the scenario we were warned about over and over again. “Your overvalued, no-profit SaaS stocks will get killed in a falling market!”
Well, while the Market Averages fell those 15.7 points, my portfolio (made up mostly of these overvalued, no-profit SaaS stocks), actually ROSE (!) 13.6 points… from 57.8% to 71.4%, while the market was falling those 15.7 points.
Just think about that. That’s almost unbelievable on the face of it. It was a total market correction and involved big stocks (Dow, S&P), little stocks (Russell), tech stocks (Nas), value stocks (IJS), the whole market!
That wasn’t because of me, it wasn’t magic, it wasn’t a miracle, it was the secular wave we are riding together, of every enterprise needing to get into the modern IT world, and needing the recurring revenue solutions that our companies provide.
Best,
Saul