On being willing to reevaluate a company.
I think that being willing to reevaluate a company after things change is an important part of investing. For example, Bill, Zscaler, and Trade Desk are three of my current current positions that I had previously sold out of and gave up on, so I walk the walk as well as talking the talk.
On to a different company: Monday. I have on several occasions posted that Monday was my highest confidence position, and that it was my largest position, or close to it. I have spoken numerous times to some very smart investor friends over the past six months, about how Monday is not the Monday that they remember from when they looked at it a year ago, but is a new Monday, a new company with new products, and a true platform that they are selling.
Some of my friends have simply been unwilling to reevaluate it. They are still thinking of it as the old Monday they remember from a year or a year and a half ago (which was quite a good company too, but more limited in scope). I can’t understand why they wouldn’t look, and it drives me crazy, which is why I am writing this.
How is Monday doing? Well they hit a low of $73.58 last Nov 9th, six months ago. They are now at $171.35 as I write, up 133% from that November low, in just six months!!!
That’s not “up 33%”, it’s up 133%, in spite of the macro that we have been in. That’s pretty astonishing if you think about it! Granted it’s not back to where it was before the fall, but who is?
It would have been nice, in retrospect, if I had put all my money in it (but I wouldn’t have been able to sleep nights, which is why I don’t do that sort of thing 
)
It’s worth staying flexible and willing to reevaluate. Saying to yourself that “I already decided about that company a year ago, and I won’t rethink it no matter what new developments there are!” doesn’t seem like the best way to approach investing.
Best,
Saul