More from @saxena_puru

Puru Saxena

@saxena_puru

31 Oct

1) Portfolio summary - Oct-end

$ADYEY $AYX $BABA $CRWD $DAO $DDOG $DKNG $DOCU $FROG $GDRX $MELI $OKTA $PINS $PLTR $ROKU $SE $SHOP $SNOW $SQ $TWLO $U $VRM $ZM

Return since 1 Sept '16 -

Portfolio +343.54%
$ACWI +32.03%
$SPX +50.63%

Contd...

2) CAGR since inception (1 Sept 2016) -

Portfolio +42.94%
$ACWI +6.89%
$SPX +10.32%

YTD return -

Portfolio +221.75%
$ACWI (-)2.52%
$SPX +1.21%

Contd...

3) Biggest positions -

1) $BABA 2) $MELI 3) $SE 4) $ROKU 5) $PINS

New buys - $GDRX $PINS $PLTR
Sells - $ETSY $FEAC $FSLY

Contd...

Read 16 tweets

Puru Saxena

@saxena_puru

13 Oct

Portfolio update (mid-month) -

New position -
Sold -

Why I grabbed shares of and sold out of -

is an iconic business which I've followed for years and up until recently, I didn't like its customer concentration and reliance on the public sector. However, after reading the company's S-1, press releases and...

@cperruna

...discussions with @cperruna , I changed my mind and picked up shares.

appears to be a solid business with a durable 'moat' i.e. customer switching costs, network effects, brand intangibles and mgt. has guided for 40%+ revenue growth in '20 and 30%+ growth in '21...

Read 5 tweets

Puru Saxena

@saxena_puru

6 Oct

1) Why the tech bubble might not pop in 2020 -

Due to my heavy tech exposure, over the past few months, I've spent a lot of time thinking about the '00-'02 tech bust.

After all, COVID 'winners' have now become mainstream and valuations have shot through the roof; so I'm...

2)...naturally concerned about what may be lurking around the corner.

After considering all factors, I've come to the conclusion that although we are in an 'incipient bubble' the party isn't likely to end anytime soon due to two reasons...

3) First and foremost, unlike early 2000, the Fed is currently extremely accommodative and creating hundreds of billions of new dollars. Furthermore, unlike early 2000, the yield curve is currently normal (not inverted).

Last but not least, unlike the 2000-2002...

Read 9 tweets

Puru Saxena

@saxena_puru

5 Oct

Carbon emissions by country -

#1 - China
#2 - USA
#3 - EU (not really a country)
#4 - India
#5 - Russia

#ClimateChange

Carbon emissions **per-capita** by region -

#1 - Middle East
#2 - North America
#3 - Australia and New Zealand

Each country's share of CO2 emissions (August 2020) -

1) China - 28%
2) USA - 15%
3) India - 7%
4) Russia - 5%
5) Japan - 3%

#ClimateChange

Read 5 tweets

Puru Saxena

@saxena_puru

1 Oct

The naysayers now saying that "I got lucky this year"!

If 22 years of investing/living through prior cycles, learning from past mistakes, continuous learning and months of backtesting to fine-tune my hedging strategy can be described as 'luck' - then yes guilty as charged.

Haters before the crash -

"He is crazy for owning these bubble stocks which will crash hard during the next bear-market."

Haters after the crash -

"He just got lucky, just happened to hedge in time and somehow owned those stocks which benefited from COVID. He is clueless."

A no. of people have asked me why my portfolio didn't fare better between early '18 and early '20?

Short answer - my 45% allocation to China

Due to the 'Trade War', my China ADRs declined by ~50% in '18 and treaded water in '19. For 2 years, half my portfolio was dead money.

Read 4 tweets