Thread by @RamBhupatiraju

On days like this morning, Markets (& Media) want us to be the deer in the headlights. Scared and frozen.

I prefer to mimic Ted Williams, stepping up & hitting my sweet spots (ignoring the noise, opportunistically adding to some of my favs).

Added to
$ETSY at $138
$SE at $136

Market is acting as if even good/established E-Commerce Cos are toast. I'll take the opposite bet for the long-term please.

$ETSY At ~30 times EBITDA, I'll take my chances with this one.

$SE At ~76B Mkt cap for this juggernaut, I'll take few more plz.

Few more Cos I came this🤏close to adding (a couple of them) before the Market came to its senses😕. Maybe on another crazy day.

$RBLX at $61
$ROKU at $142
$TWLO at $178
$TDOC at $68

At these prices, Mkt was acting as if below is the thesis for these Cos.

$RBLX : Undifferentiated Platform with no growth/engagement in the next few yrs, no advertising prospects either.

$ROKU : Consumers/Content/Advertisers are all going back to the Cable/Analog world.

$TWLO : We don't need all these Customer communication/engagement channels in a Digital economy.

$TDOC : Patients are clamoring to be back in Doctor waiting rooms, Chronic care can be as effectively managed w/o online support.

Two more that looked tempting after the above ones are

$SQ at $104
$SHOP at $790 (had to rub my eyes twice if I was seeing the price right).

My usual playbook
-No Leverage
-Long only
-Mostly sticking to 5/6 sectors and my fav cos within.
-Semi concentrated with heavier weighting towards Top 10 based on combination of interest, conviction & R/R profile (trying to get better at the latter).

-Not afraid to add on the way down as long as I see value in current price to offer decent long-term IRR
-Not trying to look smart in the short term

-Never the one to move large amount of Portfolio in/out of Markets based on price trends. So slowly adding to my fav Cos on crazy days is one the the best available options.

-Very long holding period if the business is performing
-Experienced every bear market up close since '08.
-Have lot of patience, can tolerate a lot of short term pain.😀

As always, this is just a public journal to share my thoughts (on certain crazy Market days).

My situation could be totally different to yours. So never take this as advice or recs.

Always have your own plan/strategy for good & bad times.

Wishing you the best in navigating these crazy times.👍

/END