1)Portfolio Oct-end -
$ADYEY $AFRM $CRWD $DLO $GLBE $LILM $LSPD $MELI $MQ $MTTR $OKTA $PATH $PLTR $QS $SE $SHOP $SNOW $TOST $TWLO $U $UBER $UPST $ZI #RTY_F
Return since 1 Sept '16 -
Portfolio +779.77% (52.29%pa)
$ACWI +79.25% (11.95%pa)
$SPX +112.10% (15.65%pa)
Contd...
$ADYEY $AFRM $CRWD $DLO $GLBE $LILM $LSPD $MELI $MQ $MTTR $OKTA $PATH $PLTR $QS $SE $SHOP $SNOW $TOST $TWLO $U $UBER $UPST $ZI #RTY_F
Return since 1 Sept '16 -
Portfolio +779.77% (52.29%pa)
$ACWI +79.25% (11.95%pa)
$SPX +112.10% (15.65%pa)
Contd...
2) YTD return -
Portfolio +39.18%
$ACWI +16.10%
$SPX +22.61%
Biggest positions -
1) $SE 2) $MQ 3) $AFRM 3) $MELI 4) $MTTR
Contd....
Portfolio +39.18%
$ACWI +16.10%
$SPX +22.61%
Biggest positions -
1) $SE 2) $MQ 3) $AFRM 3) $MELI 4) $MTTR
Contd....
3) Commentary -
October was a decent month as my portfolio rebounded with the broad market.
During the month, I grabbed shares of $AFRM $MQ $QS and $TOST and in order to raise cash for these, sold out of a few lower conviction or more mature companies in my portfolio....
October was a decent month as my portfolio rebounded with the broad market.
During the month, I grabbed shares of $AFRM $MQ $QS and $TOST and in order to raise cash for these, sold out of a few lower conviction or more mature companies in my portfolio....
4) Since my investment, both $AFRM and $MQ have rallied sharply (latter up ~50%!) and even my new position in $QS has appreciated by ~15% in a day, so am pleased with these new buys.
So far, $TOST has not really moved but I believe this is a dominant business and its...
So far, $TOST has not really moved but I believe this is a dominant business and its...
5)...market cap will grow much bigger over time.
Q3 earnings season has started and investors are punishing high growth stocks and because of rich valuations, this is not very surprising.
A couple of days ago, $TWLO declined ~20% post-ER and I took advantage of this dip...
Q3 earnings season has started and investors are punishing high growth stocks and because of rich valuations, this is not very surprising.
A couple of days ago, $TWLO declined ~20% post-ER and I took advantage of this dip...
6)...and marginally increased my position.
As the ER season progresses, more of my high growth stocks will probably come under the pump but if their operating results are satisfactory, I'll sit tight or perhaps add to my position(s).
Turning to the macro environment,...
As the ER season progresses, more of my high growth stocks will probably come under the pump but if their operating results are satisfactory, I'll sit tight or perhaps add to my position(s).
Turning to the macro environment,...
7)...the over-indebted global economy appears to be slowing down and so far, long-term bond yields have failed to rally (which is a bit concerning).
If my assessment is correct, due to extreme debt levels, persistently high inflation or hyperinflation are not likely outcomes...
If my assessment is correct, due to extreme debt levels, persistently high inflation or hyperinflation are not likely outcomes...
8)...and once the effects of QE and government stimulus wear off, economic growth and long-term bond yields will surprise to the downside.
In the near-term though, we *could* see a multi-month rally in long-term bond yields and if that might be a headwind for high growth...
In the near-term though, we *could* see a multi-month rally in long-term bond yields and if that might be a headwind for high growth...
9)...stocks which are long-duration assets.
If that happens, I'll just stay invested in my companies and (if needed )will simply hedge my portfolio to mitigate my downside.
I am no macro expert though so my assessment about the economy and bond yields might be totally off..
If that happens, I'll just stay invested in my companies and (if needed )will simply hedge my portfolio to mitigate my downside.
I am no macro expert though so my assessment about the economy and bond yields might be totally off..
10)...the mark, which is why nobody should rely on my views.
Turning to my holdings, I believe my portfolio is invested in some of the most promising businesses in the secular growth industries (ecommerce, eVTOL, fintech, payments, software and EVs) and it should produce...
Turning to my holdings, I believe my portfolio is invested in some of the most promising businesses in the secular growth industries (ecommerce, eVTOL, fintech, payments, software and EVs) and it should produce...
11)...decent growth in the future.
Finally, it is worth mentioning that the Fed is about to taper its QE program and if history is any guide, this tightening will probably trigger a big pullback in stocks towards spring/summer next year.
Hope this has been helpful.
THE END.
Finally, it is worth mentioning that the Fed is about to taper its QE program and if history is any guide, this tightening will probably trigger a big pullback in stocks towards spring/summer next year.
Hope this has been helpful.
THE END.
Final Comment -
$LILM and $QS are pre-revenue companies, therefore they are higher risk than my other holdings. These are NOT suitable for conservative, risk averse investors.
In any case, please do your own homework before investing in any company - it is YOUR MONEY.
$LILM and $QS are pre-revenue companies, therefore they are higher risk than my other holdings. These are NOT suitable for conservative, risk averse investors.
In any case, please do your own homework before investing in any company - it is YOUR MONEY.
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