Someone turned me on to your board today and it certainly is very interesting.

Being very tech heavy myself but also having been through 1999-2001, I always worry about being tech heavy. What say you for the argument of being so concentrated at this moment in history?

Second, I figure the average market cap of the stocks discussed is around 15B. Is there some effort to find these companies when they are small caps? Certainly any one of these current picks discovered under 1B at time of investment would have all of you retired.

The average hedge fund pick is typically around 980M and 22 bucks a share. Finding picks that are being discovered around this range can have massive alpha. A current example would be INSG. I do have a position but am more interested in finding another 5-10 of these.

Look forward to your feedback.


Being very tech heavy myself but also having been through 1999-2001, I always worry about being tech heavy. What say you for the argument of being so concentrated at this moment in history?

IMHO , having studied many of the posts here and especially Saul’s very helpful set of dissertations I’ve concluded that although prior moments have been transformational the degree of transformation does not remotely compare to what we are seeing today, particularly insofar as concerns SaaS.I think you will concur after reading all the material.

The degree of concentration is very personal. Some here ,octogenarians among them, are all in. Others, including myself, also an octogenarian , have placed limitations on their allocation to high risk investments. In my case 25% of my managed accounts. Still a heavy commitment. But hopefully warranted by the promise of the new paradigm.

Again in my humble opinion I offer one caveat. Many here and elsewhere profess the importance of investing in stocks with long term promise with the intention of holding for the long term.
Nevertheless holdings are sold regularly for a variety of reasons mostly having to do with changes in growth rates in key metrics, or dissonance in quarterly reports. Selling occurs because these portend a general readjustment of valuations resulting often enough in large stock price changes. In other words even though you buy for the long term you act nimbly to sell when it appears price levels are jeopardized.IMHO this happens a lot. Now of course that is rational behavior, but one has to be nimble to succeed.


Calif2, unfortunately you seem to have no idea what this board is about. It’s a very special board and it has rules. Please read the information in the Sidebar, especially the Knowledgebase, but also all the other (shorter) articles linked to down to Illogical investing fallacies. Also please read the Rules of the Board which comes out weekly. In fact I’ll post it now to help you out. This isn’t like other boards. It has rules, which you have to follow or your posts will be deleted after a while and you will eventually be barred from the board, which we would hate to do. Please read and catch up on what the board is about.




Thank you, I have found the knowledge base now and thanks for linking to the Monday post. I have now read the history of the board. Look forward to contributing and constructive feedback. Hopefully people can benefit from the dialogue. Congrats on your historical performance.


Thanks for your helpful post telling us you read the rules… which tells us that you didn’t understand them. You just appeared and posted 7 times in an afternoon, and continued to do so after being chided.

Stop typing. Start reading. We get you are excited to find an interesting place full of like minded investors (we all felt the same), but understand immediately starting in with chatter and chaff gets pretty old to most of us here. We don’t need long lists of companies we already know. We don’t need recommendations of companies that are executing well below
the clear criteria we follow here, just because they happen to be in an interesting trend (some might say an overhyped one). Please realize that this type of introduction to your new found community that you are excited about comes across poorly to its current occupants.

This has happened before and will happen again. Slow down. Soak it in a little.

Start this journey by soaking up all the knowledge first in the Intro posts at the first of the month (which points you to the knowledge base and all the supplementals posted in the righthand bar). Move on to sorting the board by recs and digging in to the really good stuff. Then catch up to current over the last few months of posts, going over at least the highest rec’d ones. By then you get a feeling for what helps and what is of high interest here and you start giving back.