The portfolio is down approximately -13% off it’s YTD and off it’s all time high of +16% that it achieved on February 12, two short weeks ago. That is to say, it is still up 3% for the year! It is always difficult to watch it drop that much in three or four days, but I try to remember that investing is a marathon, not a sprint. And we hold great, fast growing, fundamentally sound companies that are not going away…and not slowing down. I’ve heard it said that the market goes up like an escalator and down like an elevator. The tide is against all equities right now, as interest rates rise unnaturally fast. We have another round of earnings for Crowdstrike, Zoom, Zscaler and several others in the portfolio coming over the next few weeks. Additionally, the $1.9 trillion (with “T”) dollar government stimulus package is likely to be approved in the next few weeks. I am optimistic that the tide of the overall market will turn and very confident our companies will crush their quarterly earnings report. I have written it a few times and I’ll repeat it: In just the last 3 1/2 years we have had five or more 30% plus corrections (down) in our portfolio. During that same timeframe, the portfolio is still up 10x. I sincerely hope this is not another 30% correction/rotation, but I’m prepared to endure it if it is… hang in there and, of course, always do what you need to do for yourselves to pay taxes and sleep at night. -Poleeko
Investing in the Digital Revolution
