Another crazy up day!! I’m still nibbling and adding back to my top 4 base positions as described above. I remain cautious and am still about 18% cash, as we will likely continue to have a lot of hard news (CV cases and deaths), but I can’t time the bottom and am very bullish on these companies at these prices. Consider this: as companies are cash flow constrained and have to reinvent themselves, they are going to do so using the tools of the new digital revolution that these companies represent. While it won’t happen overnight, I feel it is being heavily accelerated right now as many who were waiting to convert are being forced. I I am further encouraged by the fact that the portfolio is up 6% year to date as of today in the midst of a market in bear territory. The past three days exemplify why it is incredibly difficult to time the bottom or the top of the market. All three days represent the portfolio rebounding dramatically. Is it the bottom? Will the recovery continue? Is this just a short recovery before another bigger drop? I don’t know the answers to any of these questions, but I am making my own bets right now that the market has priced the worst possible news in right now and when investors start to have hope again, that is when the market turns around fast. Wishing you all the very best of health…wash your hands and and keep the hope!
