The SailingDev’s Portfolio end of August 2024
It was a better month than July, I slightly beat the S&P, and yet the month had a weirder vibe. Crazy volatility. $ELF & $SMCI had some disappointing news for most of us.
Previous updates
- The SailingDev’s Portfolio end of July 2024
- The SailingDev’s Portfolio end of May 2024
- The SailingDev’s Portfolio end of June 2024
Portfolio Return
End of August 2024 Portfolio
$ELF
I sold half after their last report. But I decided to keep aprox 40% of the position, as I still think $ELF will benefit from the current market conditions. I expect them to gain market share thanks to a shift in consumer spending. People are still going to buy cosmetics, but with reduced disposable income they might shift to better value products. I just wish I was more aggresive with my trimming before the report, when the stock was flying high. Live and learn.
$SMCI
I added more on that Black Monday when the price was very low. And then the bad news started coming in. I did not close the position because I find it so far fetched that a company decided to commit fraud during the best time in their company’s history? So I want to see this play out. The short report & their 10q delay timing is so weird too. It would not surprise me if someone on the inside leaked the report delay and then Hindenburg Research did a preemptive strike. They closed their short position very quickly from what I understand, which also begs the question.
TMDX
I started a smaller position on the same Black Monday and since then the price rebounded aprox 15%. The entry price was still expensive I feel, which is why I did not start a full position.
Other small adjustments
I trimmed some $MSFT, $AXON and added a bit more to $NU.