I agree Saul, it was a wonderful day! I also took advantage of adding to my high conviction stocks. But was fortunate enough to have sold some lower convictions earlier this week so didn’t need to sell anything today. What made the day even more wonderful for me was not seeing the board flooded with doom and gloom posts. There are so many of us that owe so much gratitude to you and others here. I know this board has thoroughly changed and improved my thought and decision making processes. So thank you for the lessons learned so that I can look at a day like today as wonderful, and be able to think thru and act on what sure seems like a nice opportunity.
Seems to me there is an element of market timing to this approach. If you are willing to add to high conviction positions due to an unexplained drop in all your stocks like today, why not be willing to lighten up on low conviction or trial positions during unexplained market surges?
As I tried to explain, I’m willing to take advantage of an opportunity for an unexpected bargain. That has nothing to do with market timing. I wasn’t hoping or expecting today’s opportunity. It just happened. What made it different is that I had two lower conviction stocks that had already fallen a good deal, one of which I had largely sold out of already, and today, when my favorites were down bunches, they hardly fell at all. It was a no-brainer. If those two had fallen as much as the rest, I probably would have done nothing.
On the other hand, I don’t sell things because of an unexpected rise. I simply don’t sell things because they are going up, period, because I expect them to go up or I wouldn’t have purchased them, and because I don’t know how far they are going up.
“I was able to sell part or all of two of my lowest conviction stocks at down 1.0%, and use the funds to add to some of my high conviction stocks at down 6.5% to 10.5%. You don’t get a chance like that every day.”
Nice. Seems like a good time to make the change if you are looking to make the move. Smart.
So curious Saul, which stocks did you sell out of today and which did you add to.
I didn’t add to anything because it feels like a bit more backing and filling needs to take place after this incredible run. But that’s me.
I did buy a first position in BZUN on the sell off though.
“He probably sold one of his smaller positions and added to TWLO and ZS, but does the specifics really matter?
You shouldn’t really just blindly follow what others do anyway — you really need to learn to make your own decisions.”
So when it fits the situation one should be specific with what they do and we should care, but then not care when it doesn’t fit? Why then post each month every trade and move made specifically after the fact but not the day of.
Honestly at times I find this board a bit cultish. You ask the guru a question and if deemed uncomfortable then the handlers come out and answer it for him, always putting the questioner at some degree in their place.
Why don’t you just let Saul answer or not answer the question of what he bought and sold? He shares it monthly, what’s the difference.
I’m pointing this out on my last day of membership. If it wasn’t my last day I wouldn’t bring it up as it’s not worth it. Honestly I think a lot of followers of this board are scared into not asking questions because of past experiences. Not just this board, others as well. Maybe that’s the way board mentality just works. Sometimes though the herd mentality can end up silencing a lot of otherwise very valuable viewpoints.
I’m flabbergasted that you seem to think that Saul has a duty to answer every question. The fact that he gives his time so generously and literally has changed the lives of so many here is credit enough for all he does.
Hi, guys,
we should all appreciate Saul and this free board. He does not need to share to any of us. And I made far more $ than any other paid subscription by following his lead. If any of us don’t like certain things, it is free to leave as well. But to blame Saul on the way he manages the board or responds to some questions, that is way beyond the limit in my opinion.
What I got out of Saul’s post is confidence in the process. So, if stocks go down it’s a good chance to buy into that process. Which stocks you buy are up to you. Really, it’s the process I’m learning here; not to freak out, hold the tiller through the storm.
"all these “high conviction” stocks were cheaper a month ago (some of them even last week) and yet today they are considered “on-sale”?
that seems odd to me"
This is a very insightful post from carver and caused me to reflect, as I also topped up several of my positions.
I can say in my case I have been selling SA picks that are long in the tooth and not likely to double or triple from the current price, and buying “Saul stocks” (some of which are also SA picks) that have more room for growth.
However, regardless of confidence level I am loathe to jump in with both feet and make a massive switch; I would rather stagger changes in my portfolio.
So I agree that yesterday was not really a bargain; I was just more ready to buy.
I’m pointing this out on my last day of membership.
Chris, this is a public board so you can still follow it tomorrow. You don’t loose access to the public boards just because you let your paid subscriptions lapse.
I actually didn’t realize that. I though it was part of the premium boards and that getting onto the premium boards one needs to have a subscription to one of the services.
I will continue then to read the board for valuable information when it’s on here.
I’m being open and honest though when I say that if feels like there is a hierarchy here, that there are many like myself that don’t ever want to ask a question because they are going to treated as less than.
Proof is in the amount of recs my post received. It’s a reality.
The above post of a member asking Saul a very simple question and then a few regulars respond to that person as if they did something wrong. Put in their place. That reaction is what silences people.
Overall great work on here everyone. I just ask that new posters to the board, have a little tolerance with them. Most everyone means well and just want to contribute or be part of the process.
feels like there is a hierarchy here, that there are many like myself that don’t ever want to ask a question because they are going to treated as less than.
that’s because there is a hierarchy here, and I think it’s a good thing
It’s Saul’s board, so he certainly gets to make the rules. As the board has grown tremendously in recent years, he has enlisted the help of 3 or 4 fools (sorry don’t know who off the top of my head but I think he lists them on the monday morning rules of the board email) to help police things day to day, and others of us jump in when someone is doing something that is generally known to be forbidden here (e.g. blabbing about TMF or Bert’s paid subscriber information).
Yes there are going to be plenty of things that most people would think are normal to ask or say that are deemed off topic here. We may be blunt and feelings sometimes get a little bit hurt, but that’s something that’s just hard to avoid when we have a community this popular and we want to keep everyone focused on what this board is really about - finding the best investment opportunities in growth companies.
Generally if you’ve read the knowledgebase and read up on some recent discussions, you’re probably not going to say something that will get too much scorn
