Just for a moment on Tuesday I thought we were gonna pull out the win - alas, not to be. So February is essentially flat but a small negative nonetheless.
So - this is what it looks like YTD:
Jan = +10.4%
Feb. = -0.6
YTD = +9.8%
…
I am an amateur investor whose strategy is to monitor a large group of really smart folks via paid subscriptions, free websites, and Fool chat boards. The portfolio is then comprised of three different levels of investment: STARTER, The Bench, and Scout Team. While maintaining core level investments in the three classifications I maintain a % of cash that allows me to take advantage of market swings by tacking on 5-10% Trading Block positions. Wash/Rinse/Repeat.
YTD I have utilized 13 Trading Blocks with an average profit hovering around 6.25%. The TB factor I haven’t discussed much - which is a profit multiplier, is that when the market retreats the cash I have gained by selling a TB is not impacted: so with TBs I make money on the upswing - and keep it on the downswing.
Since I reviewed the overall portfolio a couple of days ago I am not going to do so now. Nothing much has changed; although, the first day of March was an official OUCH! Additionally, I am currently looking at the SNOW report this afternoon and monitoring what appears to be a misguided, knee-jerk sell-off.
Sure SNOW remains highly valued - or at least it was prior to the earnings report - but, in this season of everyone-posting-weak-guidance-amid-Collective Fear- Of Additional-FED Rate Hikes, its not like SNOW doesn’t remain KingFish. So - what to do.
Gonna Add slightly as the AH frenzy hopefully escalates - which might entirely be my own positive biased knee-jerk reaction. Especially so, prior to listening to the conf call. But - in for a penny in for a pound!
…
All the Best,
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Added 10% Snow Trading Block @142 and some change.
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Interesting move. What did you like about the quarter? The 40% guide after pre-guiding for 47% was a major gaffe. It seems like the “change in existing customer purchasing behavior, lower-than-expected new logo bookings, and slower expected ramp from our youngest cohorts” really caught management off guard.
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Hi SNovice:
Good Points All.
With SNOW - its not about a single QTR - in my very humble opinion. I just look/consider that everyone in the overall reporting arena is reporting weak guidance. It’s sort of like navigating the rapids along the Colorado: sure you have some rough moments but after the rapids is just another float trip. Or something like that.
So - I tend to go with the whole Buy when others are fearful thing especially for core positions.
All the Best,
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Fair enough and thanks. I like the company and the management team but am frankly shocked Slootman fumbled this one. He’s been around forever and had no obligation to float a guide after Q3. The fact it was so far off falls somewhere between humble pie and egg on his face. Neither seems very appetizing.
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SNovice:
One thing I’d like to mention, is that I tend to make more mistakes than any other investor I follow. I attribute this to an overly aggressive always-be-on-the offense (unless you’re not) game plan. If you follow athletics in general, it is somewhat of a truism that once you start to play not to lose…you have a higher probability of losing. It’s sort of a dance with the strategy that got you there but; alas, does little in the way of adjusting for lengthy
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market malaise. So - I could be right or wrong on any given call - say on SNOW - (and I am an investor who is frequently wrong) but I consider that just the way investing works under the precept that good offense (Growth) in investing always beats good Defense (Value) - albeit, everything has it moments in the sun.
All the Best,
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Ha. I appreciate the clarity. Here’s to being frequently wrong together!
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Hi SNovice:
Best post in the last three months award!
I feel that in life you must be a CEO - you have the talent for getting to the bottom line quickly.
All the Best,
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