So, while DraftKings was higher $50s and in the 60s I ended up selling all of it. Looks like they wanted to reach down to the 50dma. I am slowly building BlackLine and recently shaved some Stitch Fix as well. Still very large % of portfolio though.
I am confident in this portfolio re-allocation and with DKNG getting hit all week, it was worth the trade off into BlackLine which has been rallying off an upgrade and strong technicals. We need to be dynamic in this market. Things move quick.
I want to take a minute to just lay out my overall strategy, what goes through my head, and how I plan to make portfolio moves into the future and I suppose a little bit about my background. I have been interested in investing ever since I turned 16, the website says 18 just cause that is when I first opened my own legal trading account! I was always a saver, a penny pincher, whatever you want to call it. I remember when I read my first "finance" related book called the Millionaire Next Door, and my biggest take away was that the most humble people are usually the ones with the most wealth. I actually see this recurring trend within people I even know. I also see a lot of..."Big hat, no cattle" type too. I graduated with a Finance degree, and worked for 2 years as an analyst at a boutique investment firm. I left there to pursue an MBA of which I am currently doing with a focus in Business Analytics, and will be finished with the degree next May. I have a passion for investing in the capital markets, and my strategy is someone different. I am a firm believer in thematic investing, concentrating my positions, and taking on more risk than most investors would/should. I enjoy reading financial literature, learning from others who are more experienced, and bringing new ideas to the table. This industry is dynamic, and we must be willing to adapt to those changes. We are fed information everyday, all day. It is up to us to break down that information and try to gain an informational edge over others.
My strategy is relatively simple. I like to find higher growing names, in very "in-demand" industries. I have owned names like Square, Veeva Systems, Apple, Livongo Health, Home Depot, Lam Research, and many others. I will eventually enter these names again at some point, for now I own what I own. I cannot own everything. I like to trade around my core positions I own, lets say they crush earnings report and they are up 25%. Amazing! But I may look at that and say hmm, I can take some profits, be satisfied with my position, and if the underlying holding pulls back or overall market pulls back, I can use that cash and buy back at a lower price (still knowing the earnings report was a blowout). This is just one example, another example is the constant news flow that enters the market. If there are a ton of good/negative news articles moving my name I own heavily in one direction, I may shave or buy more depending on my analysis. Over the course of 6 years of data managing my "Growth Fund", which is my Roth IRA, I have relatively good returns as calculated by Fidelity. I am very proud of this.
I am really excited to grow this website, for people to throw ideas in here, I see that my Twitter is slowly growing with over 100 followers.
Cloudflare and Fastly are having an absolute tank of a day, I feel sorry for all the people that sold me their shares at $33..34…35..36…for Cloudflare.