Greetings, all. I’ve been following this remarkable board since July of last year, and this will be my first post. I’m writing to anyone lurking out here that, like me, is relatively new to direct investing (at age 58 coming off a financially decimating divorce, I decided to stop paying someone else to get me market-trailing returns, and start investing – at least this way I know who to blame).
Anyway, if you’re young and just starting out, or mild-aged and new to the market, or if you discovered this board recently and have a lot riding on the “Saul stocks” hypergrowth approach, I want to offer some courage from actually a pretty precarious financial position. DON’T PANIC.
If you are like me, you do your due diligence, you identify the companies you believe in. You watch, you develop your thesis and maybe a vicinity for your buy point. With the New Year, I know I re-jiggered my portfolio some, added four speculative positions and cut bait with ZS and NET after they were big gainers for me. I trimmed my remaining highest-yielding stock (ironically for most of the year one of the only non-SaaS stocks I held, NVDA). And I approached January 1 with a new log book to keep notes and chart my progress every day.
But these past three days have challenged all the good habits and all the wise counsel we’ve received here on this board. I’ve almost pulled the trigger and bailed on several SaaS stocks in the past 36 hours, including the two I believe are the smartest plays I have, DDOG and MNDY.
But I am not pulling the trigger on any of those panic moves. In my case, I’m drawing a line on a lifetime of questionable financial decisions and, more often, just farming it all out to “the experts.” I’ve learned a lot in the past year of reading, investing, and lurking on this board. This is the kind of bloody-red-ink market we’ve been learning FOR.
I’m going to buy the dips and discounts this week. Long the good companies. And test my thesis on the stocks I hold that are getting battered. As all the wise hands on this board, especially Saul himself, make clear, if the thesis is still strong, and you’ve done your homework, this too shall pass.