Well,
We did it.
After almost a complete career of underperforming the market, no matter how grim the results my wife still hasn’t fired me.
However, I presented the list of all of Saul’s current holdings and attempted to get my wife to review Saul’s write up on all of them, them review the Annual reports and then the investor relations website and listen to latest confrence call.
We didn’t make it that far despite my best efforts to convince her that our confort with the company (not the stock) was as important as the company itself.
After a discussion she said not to wait until we had analyzed all the stocks, I wanted evaluate them all, assign weights to them and then buy 8 to 12 stocks. At 12 stocks we would have a full position at 8 percent of our total port. We are a little over weight SHOP and have a full position in AMZN.
I wouldn’t let her buy or sell anything else at this time.
Cheers
Qazulight
8 Likes
Interesting post - err so you have a 2 stock portfolio? A full weighting of Amazon and an overweight SHOP position?
Ant
(Still trying to figure out who wears the trousers in the Qazulight household).
6 Likes
After almost a complete career of underperforming the market, no matter how grim the results my wife still hasn’t fired me.
The old saying was: “If at first you don’t succeed, try and try again.” A better one is: “If at first you don’t succeed, try something else.” Well done! But please remember that the process is much more important than the actual stock picks which change quite often. When I was creating my own new model I, like your wife, got anxious (antsy?) to get started. That wasn’t a good idea, I bought some stocks that I souldn’t have bought.
Joseph Schumpeter wrote about creative destruction over 70 years ago. I guess we all do our share of it. 
Qazulight, well done!
Denny Schlesinger
2 Likes
(Still trying to figure out who wears the trousers in the Qazulight household).
A friend explained how it works in his household: “I wear the pants. She gives the orders.”
Denny Schlesinger
1 Like
(Still trying to figure out who wears the trousers in the Qazulight household)
She handles all the cash flow including from employment income and real estate investments. She complains about having to handle the real estate because she said, “That’s your idea.” But she does it anyway.
I basically have attenpted to fire myself, or a least demote myself from chief investment officer due to poor investemnt results.
So right now the pants are pretty much on the floor and we are pointing at each other saying “No you wear them.”
We have a port of 4 stocks, we have two Legacy stocks, Village Farms and Enerplus, and two Saul stocks AMZN and SHOP. I might add, I did not want to buy AMZN in this port as I beblieve it is not specultive enough.
We have another pool of money, larger than this speculative portfolio that I told her she should invest conservatively, i.e. Index Funds, Dividend Champions or large caps if she is feeling frisky. That is where I thought Amazon, Google, Apple, and Facebook belong if anywhere.
We ended up listening to the earning report for Google last night. It is impressive compared to Conaco Phillips or AT&T. T is a large portion of my net worth held in my 401k and she holds a little Conaco in an account she opened with some old 401ks and inheritance.
I hope I can hear a recording of the earnings report for SHOP and AMZN.
Cheers
Qazulight
2 Likes
I hope I can hear a recording of the earnings report for SHOP and AMZN.
Listening to an hour call takes an hour. Much faster to read the transcripts.
1 Like
Listening to an hour call takes an hour. Much faster to read the transcripts.
I read far more transcripts than listen to calls the exception being UBNT. Listening to their calls over the years has helped get a sense for how the company is doing. I think you can hear it in Pera’s voice a bit. By the way, this past UBNT call, Pera was quite collected and very confident FWIW. Also, their calls are only Q&A and are typically very short. One call lasted under 9 minutes!!!
What I like about the transcripts is the ability to take notes. You can either print the transcripts out or do it electronically. I prefer electronically as I can save on my computer in a file under the company name for reference later.
A specific example would be for Criteo. I can glance at progress on the various different initiatives from quarter to quarter. For instance, Header Bidding has been a topic of concern/opportunity over the past several quarters. Putting small “HB” notes where header bidding is discussed allows me to easily reference how this specific item has progressed from quarter to quarter. This is probably nothing new to many…just thought I’d add to it a bit.
Take care,
A.J.
10 Likes
Hey Phoolio18 I agree with you that the transcript is nice, reading is faster and is easy to mark up for notes. However, I personally think listening to the call is more important. When reading you do not pick up on lots of unspoken aspects, such as voice inflections, timely pauses, etc… Just like you said above, Pera sounded very confident, you would not get that if you just read a transcript.
2 Likes
Pera sounded very confident, you would not get that if you just read a transcript.
Hi Pigskin,
I’m not so sure about that! In my post called Earnings Season So Far I wrote the following about the Ubiquiti Conference Call:
I’ve been a critic of Robert Pera, the CEO, in the past, but he was very impressive in the Conference Call.
Saul
1 Like
Qazu
So right now the pants are pretty much on the floor and we are pointing at each other
That sounds like that would be the best investment discussion club ever!
Brian
3 Likes