I started investing ~ 10 years ago. I've been able to achieve 26% returns *per year*

A few things have helped:

* @themotleyfool
* The combined teachings of @DavidGFool and @nntaleb (Antifragile)
* Sharing my holdings to be accountable.

My current port as of 9/1/21 ⤵️
(all Ex-cash)

1) $SHOP 17% of port, 2,600% return
2) $MELI 10%, 1,200%
3) $CRWD 7%, 350%
4) $SE 7%, 150%
5) $AXON 5%, 520%
6) $MDB 5%, 420%
7) $TEAM 5%, 200%
8) $VEEV 5%, 900%
9) $AMZN 5%, 1,700%
10) $DDOG 4%, 270%
11) $GOOG/L 4%, 750%
12) $U 3%, 40%
13) $ISRG 3%, 860%
14) $DOCU 3%, 34%
15) $ABNB 3%, 0%
16) $PAYC 3%, 960%
17) $ETSY 2%, 340%
18) $SNOW 2%, 10%
19) $ZEN 2%, 385%
20) $PTON 1%, (16%)
21) $GBTC 1%, 600%
22) $ZM 1%, 16%
23) $TSLA 1%, 22%

Waiting (trading rules) to make some changes previously announced here.
If you want to see the thought process used to make these decisions, @BrianFeroldi and I put out 4-6 videos every week that are totally free.

Watch/subscribe here: youtube.com/c/BrianFeroldi…

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More from @Brian_Stoffel_

28 Aug
In 2011, wife & I quit teaching, rolled over 403(b)’s.

Since then:

💰Never earned more $$ than 2010.
🏠Bought House
👩‍👩‍👧‍👦Started family

BUT, also since then...

Our roll-overs have 10-BAGGED

Surprising lessons on how we did it 🧵
1/ It wasn’t a straight line.

2012=9% returns

From 2011 to 2016 (FIVE YEARS), entire rollover was up only 30%

Annualized = 5%

S&P 500 during that time = 12% *per year*
2/ In 2016, two things changed.

@DavidGFool asked me to vote on a @themotleyfool service for stocks
I read @nntaleb’s ANTIFRAGILE

I needed a framework to intelligently vote for @DavidGFool’s service, and @nntaleb’s work provided that.

I started working on the framework
Read 18 tweets
4 Aug
Five years ago, after reading @nntaleb's *Antifragile*, I developed a framework for identifying Antifragile companies.

In the past three months, @BrianFeroldi and I have put 23 different companies through that framework.

Here's how they scored, a 🧵⤵️
A quick caveat:

Before 2020, 7 companies had been defined as "Antifragile". Since Jan 1, 2020:

* All 7 have beaten the S&P 500's 41% returns
* The average return is 150% (+109 points)

Why this matters: 2020 was the first "chaos" to measure anti-fragility at scale.
One more caveat:

* A low score doesn't = BAD INVESTMENT. There are tons of false negative.

I'm willing to accept that, because (historically)

* A high score has always = market-beating performance

Keep that in mind, as we go through the three levels.
Read 11 tweets
25 Jun
The 9 Most Anti-Fragile Companies I've Evaluated

(That are still under $100 billion)
Largest to smallest, those 9 are:

1) Airbnb $ABNB - $94 B
2) Mercadolibre $MELI - $77 B
3) Atlassian $TEAM - $67 B
4) CrowdStrike $CRWD - $58 B
5) DocuSign $DOCU - $54 B
6) Peloton $PTON - $37 B
7) Datadog $DDOG - $33 B
8) Unity $U - $32 B
9) Axon $AXON - $11 B
Seven of these companies have been public since January 2020 -- capturing the chaos of the pandemic that "Antifragility" is built for.

Their average returns: 230%
The S&P 500's: 32%

What do all of these companies have in common?

8 things👇
Read 14 tweets
22 Jun
14 Books That Changed My Life 📘

(and what I learned from each of them)

The *Ishmael* series by Daniel Quinn (@Read_Ishmael)

* We were optimized for hunting/gathering
* The way we live is evolutionarily odd
* Every culture has a story, but few identify the story they're enacting.

Also, *Story of B* and *My Ishmael*


The Incerto by Nassim Taleb (@nntaleb)

* Randomness over power of stories (Fooled by Randomness)
* 1% of inputs = 99% of output (Black Swan)
* How to be thrive in uncertainty (Antifragile)
* No opinions without risk of loss (Skin in The Game)

Read 19 tweets
15 Jun
There are lots of ways to "win" as investor.

Focusing on valuation is one of them. But you have to be really:
* Smart
* Willing to put in lots of work
* Aware of what market is doing daily

My approach:


It's worked. The proof & thinking 👇
What I look for are ANTIFRAGILE companies.

They all:

* Use the Barbell Method (Mission, Moat, Optionality)
* Have Financial Fortitude (Balance Sheet, no Concentration)
* Have Skin in the Game (Founder, Ownership, Glassdoor)

If they have these 3, I don't worry about valuation
The basic idea:

When chaos hits, ppl in real world don't care about valuation of a stock.

* Schools: $ZM will help us with COVID (no one cares about stock price)

* Citizens: Our police need to use $AXON (no one cares about stock price).

Some real examples from my port
Read 14 tweets
12 Jun
Last week, I talked about the Antifragile Framework for investing.

The biggest question, by far: What about VALUATION?

It's not in the framework.

But before I explain why, there are 6 things you need to know about ANTIFRAGILITY and PREDICTING the future. A 🧵

We often take what's recently happened, and project that into the future without end.

That makes sense. 99.9% of the time, you'll be right.

The same was true for our ancestors. NOT doing this would have led to extinction as hunter-gatherers
But 0.1% of the time, you'll be wrong. (Black Swans)

Imagine how WRONG your predictions would've been on:

* October 23, 1929 (Black Thursday)
* December 6, 1945 (Pearl Harbor)
* Summer 1990 (Fall of USSR)
* September 10, 2001 (9/11)
* New Year's Day 2020 (COVID)
Read 12 tweets

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