I deposited a sizable chunk of funds into my account worth 5.6% of my total portfolio. This represents 56% of the excess cash cushion I spoke about yesterday. This is a reaction to Mr. Market’s latest sell-off, as well as confidence in more funds coming in the not-too-distant future.
While the Nasdaq is still just 10% off of all time highs, multiple compression and pullbacks for several high quality names have been much sharper. These are the times when investors generate alpha. They’re the times when those who can tune out the noise, fixate on fundamentals and zoom out are rewarded most handsomely. This is when hacking your brain to approach multiple compression with excitement pays off. Staying the course in 2021 and 2023 when everything is racing higher is easy. Doing so today is more important. I have no prediction on where or when markets will bottom. Anyone who does is purely guessing. I simply know that I want to keep owning more shares of high quality names as deals get better and better. Here’s what I added to:
Brand new 2.5% stake in Alphabet. I think my most recent earnings review on the name spells out all there is to like. I’ll write a condensed investment case on it after peak earnings.
15% boost to my Amazon stake.
14% boost to my Shopify stake.
15% boost to my Progyny stake.
17% boost to my Zscaler stake.
17% boost to my Celsius stake.
14% boost to my SoFi stake.
16% boost to my Duolingo stake.
One other note. I am switching brokerage, credit and bank account services to SoFi. I wanted to get everything in one place, use their new card and access their savings yield. I plan to begin the process of moving things over in the near future.
