formthirteen

10 years from now you might be as happy as I am today that I sold this 10 years ago.

Yes Feels like I am too diversified and FB is one of my high-conviction ideas that I would be comfortable having a 10% position in, but I'm not there yet.

Adding to FB

More BTI with proceeds from WFC

This was a pretty interesting book: https://www.goodreads.com/book/show/6387532-the-great-influenza The behavior of humans and viruses has not changed since 1918... Here are some random quotes I found interesting: Maybe I should read about a book about the "Wall Street Crash of 1929" next, so I can prepare for the inevitable.

More BABA. Now a full position.

I like https://www.koyfin.com

Sold TPL yesterday. I still like the 70% FCF margins Horizon Kinetics wrote about...

Bought VNT, with the proceeds from selling MIDD, also bought BABA and more BTI earlier this week.

Minor positions in ILMN, TPB, and OACB that I had bought to learn more about stonks. I learned that I like MO, BATS.L, PM, VRTX, BIIB, and cash more.

DFS, SYF, SIMO, and SE. I have paper hands and tendies.

He thinks BYD is at nose-bleed levels but is still holding, if I heard correctly, because of tax considerations and what sounded like a lack of a strategy for when to sell. He likes the business and management.

Exited IAC and BIDU. I don't like timing the market, but when the market gives me +100% returns in less than a year, I take it :-\

Is the music still playing? I almost sold SE this week, but then I checked my notes and the revenue growth and had to postpone the decision...

I like the high-quality portfolio of Triple Frond Partners, Joho Capital, and Altarock Partners. Top holdings BABA, MSFT, TDG, MSFT, GOOGL, CHTR, etc, are all familiar. Joho also owns GPN, LTHM, and EEFT, which I should take some time to learn more about... Maybe someone here knows the quality of these stocks? Here are some other managers that might be of interest: H Partners Miura Global Management Triple Frond Partners Aquamarine Capital Management Pabrai Investment Funds Affinity Asset Advisors Giverny Capital Greenlea Lane Altai Capital Management Dorsey Asset Management Lincoln Capital Swift Run Capital Mittleman Brothers Locust Wood Capital Advisers RV Capital CAS Investment Partners ShawSpring Partners Teton Capital Partners Joho Capital Not all match your criteria...

Tracker positions in FB, ILMN, and TPB. Stocks only go up.

Exited SCHW and KINV-B.ST.

I tried not to sell too early, but my strength failed me today. The stock is up ~500%, so it was simply time for me to leave the party while the music is playing. BYD is still a great company. Nothing has changed. BYD's future is perhaps brighter than I imagined. I still think the company is China's version of TSLA.

Exited 1211.HK and SHAK. I would have liked to hold these two forever but the market is looking a bit stretched ::) Quo Vadis Capital has a nice presentation on SHAK and competitors: http://quovadiscapital.com/wp-content/uploads/sites/92/2019/10/SHAK-presentation-Cyprus-Value-Investor-Conference-Oct-2019.pdf They were right about SHAK when the presentation was published (Oct 2019) and I believe they are right again...

Leftovers from March: AMCX, GIL, and GOOS. Plus, some SCHW.

FFH ::)

Investing in a Bubble: https://mailchi.mp/verdadcap/investing-in-a-bubble

1211.HK

QS, BLNK, BLDP, PLUG, FCEL? QS is already down +50% from the top. I'm no expert and I don't know all the pitfalls to look out for, which is why I generally avoid buying options, but this bubble all the innovation happening everywhere seems like a generational opportunity for options speculators.

DC.L