FF Portfolio Dec '23' Update

What a year!! I remember last year being down the last couple months and thinking 2022 would provide a bit of a rebound. Boy was I wrong!! What a difference a year makes. Unfortunately, I think I am a better investor now as I have learned a lot of hard lessons. Unfortunately, many of them, like monitoring the FED policies, are a bit late to change course now!! Of course I thought that 6 months ago and my portfolio is down a bit more from then.

Despite this HUUUUUUGE drawdown, my portfolio is still ahead of where it would be if I had not found Saul’s. At this point, it seems like a wound up spring. When sentiment returns (and it will return), I think our portfolios will do well. Thank you to everyone on this board. I am grateful.

YTD = -66.23%

Bumped up SNOW position after listening & reading the CC. “Product revenue from the Global 2000 outpaced the company as a whole, growing 40% quarter over quarter. Global 2000 customers now represent over 40% of revenue.” is my catalyst. Broke my 20%-ish ceiling guideline

Closed out CRWD 7% position.
Added 3% to $S
Added the rest (4%) to TSLA
After all my companies reported, and re-analyzing the performance of each, decided to close out CRWD, mostly in favor of SentinelOne but also because I wanted to bump up TSLA (in hindsight, should have waited a couple weeks). IMO, just about everything from the $S call was better than from the $CRWD call from the tone of management to the tone of the analysts. The contrast of things CRWD is seeing to what S is seeing is a big deal in my opinion. Its likely easier to go up-market in this environment than down-market. I think the S margin improvements + growth + GTM strategy + how beaten down they are all show very bullish for the near & long-term

Trimmed ZS
Added half to SNOW & half to TSLA
I’m still very confident in ZS, still my 3rd largest position. Wanted to beef up TSLA & SNOW a bit more. JonWayne’s writeup on CFO discussion compelled me to this decision.

If you haven’t read Software Stack Investing’s ER summary, DO IT.

My favorite piece here is something I hadn’t thought about. Sure, AWS & Azure can and are building out data sharing, but they will be EXCLUDING customers on the other platforms. Snowflake’s HUUUUUGE advantage in multi-cloud.

CHEERS TO THE ANNUAL RESET!! Hopefully we’ll all get back to our GREEN ways.