Thanks for the update, Saul, always enjoy hearing your perspectives on the companies you hold and why you do what you do, as you’re under no obligation whatsoever to keep us informed, I appreciate it when you do.
I’m with you on some points, but don’t agree with a couple others, and you seem to want people’s opinions so here are mine.
Like you did, I have also been adding to my Crowdstrike position. They released a great report almost a month ago now (their first since IPO) and the stock has performed well since then. I plan on continuing to build this into a larger position for me as opportunities present themselves.
I don’t agree with the following statement about Mongo, I’ve started to lose patience with Mongo. I’ve held it for 21 weeks now, and it is up 7% in the 21 weeks while the rest of my portfolio has been hitting it out of the ballpark. I don’t remember “losing patience” as a reason to trim/sell a stock if nothing has changed with the underlying company. And “21 weeks” is a pretty short, arbitrary time frame to be judging a stock’s performance, I realize that’s how long you’ve been back in it this time, and your other stocks have done well during that time, but looking at different short term time frames would yield some pretty good results from MDB. I realize you only slightly reduced your position size, and did so to put it in other stocks you hold that you feel are better opportunities (which is a reason to trim/sell), so I’m not knocking what you did, just the wording used “losing patience”, makes it sound like momentum investing, trying to find the stocks that are moving up the most right now, not willing to be patient with ones that may move up more in the future.
Regarding Square, I have no problem with you getting out of the company for some solid reasons, the stock has definitely not performed well over the last year, but I do take issue with the following statement regarding Sarah Friar’s departure, it now seems likely that, as CFO, she had a good view and she left because she saw the handwriting on the wall… I really don’t see how you can jump to that conclusion unless you read or heard that in an interview somewhere, I don’t remember ever hearing such a thing. I could just as easily say it seems likely she left because she saw the handwriting on the wall that she was going to be canned for implementing financial decisions that were going to stall the company’s stock growth for potentially a year or more. Do I believe that? No, but I could say it with no proof. You and many others here only hold 10-12 stocks or less so I understand no room for stocks that take a breather. I currently have about 18, so there is room for SQ in my portfolio as I feel it (the COMPANY) continues to perform well IMO, and I think it has a great risk/reward ratio to potentially perform better than some of the other stocks I hold that have had huge runs of late. No stock goes straight up, there’s always FUD events, pullbacks, and some periods of consolidation that can be followed by explosive growth in the stock price if the company continues to perform well, and I think SQ will do just that.
And just to complete my thoughts of what I’ve been doing recently…I’ve been adding to some stocks I hold that are not widely held on this board, but have shown triple digit growth rates (some accelerating triple digit growth rates), Exact Sciences (EXAS), Tandem Diabetes (TNDM), and StoneCo (STNE). Not going to go into further detail on those as I believe I’ve posted about each of them over the past few weeks as they’ve released earnings (STNE officially releasing tomorrow, but they pre-announced a couple weeks ago). And for full disclosure, I’m adding to these with monies from some legacy stocks I still held that I’ve gotten out of recently (Paypal, Abiomed, Nektar).