Sorry, another update, rather than give people any wrong impressions.
Over the weekend I read up on Livingo, because of the interesting threads on the board. I decided to take a small to medium position, and took a 4.6% position Monday morning in the pre-market and early morning of the regular market at an average price of $52.99. I’ll write up more of my thoughts about it later in the week
I also added to my Coupa position between $201 and $205. It’s now a 3.75% position.
Today I added some small amounts to my DataDog position in the pre-market. It was already up about 9.5% at $61.20 when I bought. It’s now a 20.5% position
To do all this I trimmed my Alteryx position by about 38% of its shares. It was a fairly easy decision for me. I thought “Alteryx is pulling in its horns, cutting hiring, reducing spending, and will still probably grow by 25% this quarter and this year. That’s pretty remarkable. But Livingo and Coupa are going all out and booming. Does it make sense for me to have 20% in Alteryx and just a couple of percent in Coupa and nothing in Livingo? No way.”
And today, we had Datadog accelerating its growth in the same months that Alteryx slowed from 75% growth to 43% growth, and Datadog seeing no negative effects from the pandemic as of yet. That was a no-brainer too. Datadog was already a 19.5% position though, so I wasn’t going to add as much. It’s now about 20.5%, but that’s not taking into account today’s price rise. Alteryx is down from a 20% position to a 12.4% position. Alteryx was seeing the pandemic as a headwind and riding it out, still growing the business, while Datadog, and Living were experiencing it as a tailwind, helping them to grow.
And I’m embarrassed to report how much my portfolio is ahead, but right now it’s up 61% year-to-date at a time when the market averages are still in very negative territory. That’s ridiculous!!! Well, how did it happen? I didn’t sell out at the bottom. I concentrated into high confidence companies that would do well in spite of the virus, and some that would do better with the work from home, etc. I told you what I was doing and why. I made some mistakes like selling out of Coupa and then having to buy back higher, but I don’t care. I expect to make some mistakes and then correct them.
Let me assure you I don’t have a crystal ball and don’t know if the stocks will continue up, or be down 5% tomorrow, or even later today.