A rough day today and a rare one when the market is up significantly and our entire portfolio is moving in the opposite direction. Who can say why (sector rotation?). It when you are up 62% in about 60 days (since the low of March 16) I guess the portfolio has to take a breather eventually. These are all solid companies that I hold long term, so days like today are nothing to worry about…I worry when ONE of them is down for a good/bad reason, not when they all are down…
User Comment: I missed that you bought Livongo! When did that happen and why?
Victor: I will only add that I recently heard an amazing earnings call from a company called Fastly (FSLY)who competes with NET indirectly (different customer base and slightly different offerings). FSLY has had ~30% growth and not really excited me the past four quarters…then they suddenly on the recent call increased their revenue guidance to 56% growth while most companies are dropping guidance altogether!! …and note that most companies guide lower than they will actually achieve. FSLY is benefiting tremendously from WFH due to COVID-19 and the acceleration of the digital transformation. I picked up a starter position today of around 1% and will start tracking them for a while to determine if I want to invest fully. They seem to have faster growth than NET and are not as highly (over)valued as a stock…if that growth continues, it would be much more attractive. I’m selling a small part of my OKTA to pay for the new position because it has become oversized at almost 14%. And I will likely continue to reduce that OKTA position back down to 10%. Cheers!!
