I’ve been very busy with building several new start ups these past few months so I have had little time to contribute to the board or post updates.
2022 > -55%
2020 > 209%
2019 > 41%
September 2022 -55%
Septemnber 2022 Portfolio
Like most of the board, I got out of MDB after earnings, the numbers were simply not good when running a 6-8 company portfolio. I will continue to watch them as I expect the growth to return with better numbers.
I also sold out of GTLB after a nice little run. I’m still on the fence with them, it bothers me that they have strong competition from GitLab but I will continue to study them as management were extremely bullish on the last call and devops could be an area that is protected in budgets when the big recession comes in 2023.
I’m back into BILL - more below.
I topped up SentinelOne considerably, as well as more SNOW.
I was mightily impressed with their Q2 earnings. I won’t rehash what has been expertly analysed already from the board but management have given us a lot of confidence that they will be able to maintain the hyper growth well into 2023.
The consistency, the leadership, the innovation, and the upcoming improved operation margins are the main factors that maintain NET as a top tier conviction.
A very strong earnings, one of very few still delivering other worldly revenue growth. As long as they keep that up, I’ll be keeping my position size large because their market cap is small and they have potential to deliver some serious alpha in the next few years.
I got out earlier in the year as I felt the story was complicated and they could start to see some slowdown with their SME exposure. Q2 earnings however showed they have made some very good acquisitions, they are still delivering some big numbers and being in payments, a fundamental service for companies, they could continue to weather the recessionary storm ahead so it was enough to convince me they deserve a spot with my high quality performers.
I’m starting to wobble with CRWD. There are a few amber flags that suggest they could be moving into the 40-55% range next year. On the other hand, they are clearly a leader, this should be an industry that is fairly well insulated but competitors are on their tail…
MNDY, MDB, GTLB, ZS
Appreciation to those on the board who keep sharing their insight and wisdom despite these very tough times.
September 2020 - https://discussion.fool.com/portfolio-update-from-london-uk-sep-…