Well, that wasn’t fun. The good news though is that it wasn’t our hypergrowth stocks, it was pretty much everything. The last half of the month was particularly amazing as there were several days where my portfolio was up BIG early only to close RED except of course for the last two trading days of the month.
That’s all short-term stuff though. The more important long-term is still as bright as ever! SaaS will continue to be big winners. The over-reaction pendulum will swing back the other way and we’ll be euphoric again. The biggest mistake we could make is to sell out now, when things have already gone down so much.
YTD & MTD
-21.2%
Month Perf Jan Allocation
Data Dog -18.0% 24%
Snowflake -18.5% 22%
ZScaler -20.0% 19%
SentinelOne -11.3% 15%
Monday -32.0% 14%
Cloudflare -26.7% 3% NEW
Transactions:
I finally made the decision to consolidate my Crowdstrike into Sentinel One. The last holdovers were in my taxable account and when I realized that my profits there were almost all gone, it helped make my decision easier.
I trimmed DDOG a bit as it had become almost a 30% position. I re-started a position in Cloudflare with this money.
The second major transaction (outside of monthly additions), was to sell out of what I had left in Upstart. I put most of these funds into Sentinel One as well but put a little of it into Cloudflare. Its amazing to me that the stock price is right about where I sold it a year ago!
Company specific thoughts:
Not too much to add here. I think Saul has all my stocks and had a very good writeup. There wasn’t much news this month either. February will be different with most of my companies reporting. Looking forward to that because my hope is it wakes up the market that these companies are not going to zero. They are actually continuing to perform very well.
I’m very happy to be back in Cloudflare. I sold about a year ago and all those months seemed a bit off not having such a quality company and reading the constant updates they provided.