I’ve been offline for a week and I’m just now catching up with my 14-stock portfolio and all the recent changes.
First, I highly recommend getting off the grid for a time. It’s refreshing in many (non-financial) ways.
Second, FSLY, oh my! Being offline, off grid for a while is tough on our style of investing.
The active posters here are also active investors. Very active. It’s a commitment to move this fast. You have to ditch ‘good’ companies for whatever is growing faster. ‘No rest for the invested’ to turn a phrase.
If you can’t move this fast, well, this style of investing isn’t for you.
I wonder about this. It is true that people here occasionally move quickly, but I don’t think that makes the style off-limits to slower-paced investors. You just aren’t going to catch the same pricing. That’s not the end of the world.
When the market got wobbly in September, we were on vacation with very limited wifi. And today I did not have time to make any trades – so I will figure things out on Monday. It is not the end of the world.
It’s the choosing of the companies that is the biggest, most meaningful decision. I don’t think that dropping out of a company within X hours is what makes people successful. Many people have different entry and exit points and are doing well. We don’t all have the time to be right on top of things, and we aren’t all snap decision-makers either. That’s OK.
A counter example: I started actively following this board about a year ago and I remember that many people here held AYX. Based on the collective conviction, I started a small position…then watched as it under performed my other holdings(my bad). The decisions by many in this group to trim AYX and/or exit were not made quickly.
So, not all moves in this group turn on a dime. Yet, some do!
There is something thrilling about moving decisively and not looking back.
And, a lot of learning and refining of one’s investing process happens in the muddled grey areas, when we weigh different perspectives and points of view to decide what to do. Thanks to all who have contributed to the rich discussion on FSLY.
The other thing lost in all the discussions of FSLY currently is that it’s not like the stock hasn’t been a fantastic investment this year.
Without looking at the YTD you would think with all the posts that FSLY has fallen so much that it’s now time to wait a few quarters and see if the stock price can make a comeback to its all time highs.
The stock is still up 321% YTD. Wowza!!!
This last move up from 90s to its all time high never made much sense to most anyone holding the stock. Now it’s pulled back to where it was before that last spike up. All the way back down to up 321% YTD.
Amazing when you change the perspective a bit. I sold completely out at 91.10 with a crappy 210% gain.
This last move up from 90s to its all time high never made much sense to most anyone holding the stock. Now it’s pulled back to where it was before that last spike up. All the way back down to up 321% YTD.
People anchor on the all time high without realizing that it was not valuation but a short squeeze. FSLY had one of the largest short interests a few days ago. I posted here that the October 7 rise to 120 was most likely a short squeeze which left the stock over extended. How far did it fall? Back to its previous trading range just below its 50 DMA. Best said in pictures:
I don’t say this to ignore the bad news, they were certainly bad news but not the reason to panic. I also said that putting your money elsewhere might be a reasonable action.
To sum up, don’t panic. Decide what to do and do it swiftly but don’t panic.
