Notes

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June Model Portfolio Update #2 of 4

After cleaning up the whole portfolio in part #1 it’s time to start adding some themes and stocks. TLDR; The time for “XR” is now and were adding: Bentley Systems (BSY), Roblox (RBLX), Corsair (CRSR) and Matterport (GHVI) which join Unity (U) and Agora (API) under this thematic category. What we call “XR” which we’ll…

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June Model Portfolio Update #1 of 4

TLDR; 12 kept, 12 eliminated – Keeping SDGR, SWAV, GSHD, WK, HUBS, ARLO, AVLR, U, API, TWLO, DOCU, FTHM and eliminating FVRR, MRNA, PINS, TDOC, SFIX, SVMK, PLAN, ONEM, CDLX, RKT, TMDX, W Keepers Twilio (TWLO) – This is one of our longest holdings. In 2017 we published Time to Buy Twilio and never looked…

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Duckhorn Wines (NAPA)

The wine business has come a long way in the past few decades. Back in the 1980s, I was an investor in Edna Valley Vineyards and I learned that equity investors don’t do very well in the wine business. The investment was still a good one only because of their annual “shareholder event” which featured…

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Restaurant Chains go Online with Olo

It’s been chaos for restaurants over the past year. We’ve seen the rise of DoorDash (DASH), GrubHub (GRUB), and Uber Eats (UBER) to address the acute need for widespread food delivery. Longer-term this is just a huge catalyst to re-engineer the business. Once menus are online it’s simple to just use a QR code for…

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Mytheresa Aims High

We’ve had a few “luxury retail” e-commerce companies come public including FarFetch (FTCH), TheRealReal (REAL) and most recently Poshmark (POSH). Although the latter feels a little more like an “eBay for clothing” than a real luxury retailer. Mytheresa is positioned at the very high end of this market in terms of both the products they…

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NeoGames

People love to play lotteries. States have capitalized heavily on this with their own lottery programs. Some criticize it as a “regressive tax” but players respond to the lure of only needing “a dollar and a dream.” Government-sponsored lotteries are now woven into the fabric of our society and have become a key aspect of…

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Model Portfolio Changes November 2020

It’s been too long since we updated our model portfolio (February 2020) but the performance has been good thanks to continued market strength. (During this time though we have been very active in our StockTwits room with shorter-term ideas and adjustments.) In order to provide more regular updates, we’ve created a Google Sheet that summarizes…

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Leslie’s wants to join the pool party

Leslie’s (LESL) is in the pool business which has been getting a major COVID-driven bump in demand this year as people have shifted spending from travel to their back yards and in some cases, pools. The current range is $14-16. Investors are aware of the trend and many have enjoyed the outperformance of stocks like…

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Datto drives small business IT

The Datto (MSP) IPO is this week and the current range is $24-27. The deal is expected to price and trade well based on early indications. Positioning in a Nutshell There are a few things that make Datto different from other cloud IT companies: Datto is going after a very specific segment – SMB customers…

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Parsing Palantir – Part II

We published an overview of the Palantir (PLTR) basics already so see Parsing Palantir – Part I for that if you want more background. With the direct listing coming today (Wednesday, September 30th) it’s time to circle the wagons and look at the facets of the company and the stock and develop a feel for…

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