to follow up on my list of 100 ideas and report back. Just got bombed with personal stuff that’s going to take quite awhile (we’re getting out house ready to sell and downsize) but I don’t believe in excuses, so . . . I’ve been trying to determine how much of a few of those guys to buy while the price has been on a tear for all of them.
Saul’s rubbing off on me. I no longer buy small pieces of anything. I’m down to 14 stocks and none are losing. One AAPL position is my slowest gainer, while another slice of AAPL is one of the higher, due to buying the former at a bad price. All the rest are running on CAGR’s of 31% and up–way up.
I bought a big chunk of ALGN. Someone mentioned them earlier I see. I found no serious red flags for them, if you believe in the business model. (I do for the mid-term but long term, I see little moat other than the wonderful worth of mouth - pun intended - they have enjoyed to date. Also had no serious issues with VEEV or Micron, so I bought a bunch of all 3. I’m surprised no one’s mentioned Micron; I know it’s not new, it’s not sexy, but they’re raising revenues and profits faster than the analyst idiots can track.
I used to get concerned when a position grew to near 10% of my portfolio. Now I start out with 7-10% positions. Call me crazy, but it’s working. Of course in this market, everything’s working, so I’m not passing out cigars or anything.
My apologies for not writing up some of the companies I’m trying to get time to review in detail; worse yet, it’s still going to be awhile before I get back to them. But I promised to speak up if I grabbed anything from the list. This is it.
My gains from 100 days in SHOP just added another digit and also surpassed my gains from 722 days in GOOG. So much for diversification.
Anyone read the new book from AAII’s retiring CEO, called Level 3 Investing? I just got the book but already I see he trashes all the old investing “rules” including LTBH, diversification, Beta and MPT. Makes me wonder if Saul wrote it under a pseudonym.
Good luck to all,
ps: Yikes, I just ran across a TMF promo for some new service that’s going to change the world (make them richer, I suppose) and they listed 4 Big New Thing stocks, 2 of which were VEEV (no surprise there) and ALGN. Maybe I should have bought more Micron. Gotta move fast these days to keep ahead of the Jones’s, the Gardners and Mr. Market.