Yesterday afternoon was a tense time for holders of high growth IT stocks. Would Nvidia confirm what most implicitly believed with regards to GPU chips? Or was the bloom off the rose. Happy to say, the rose is still in all of its June glory-well roses used to reach peak bloom in this climate in…
We have made the following changes in the high growth portfolio earlier this morning. CompanySharesPriceB/STotalOld Position New PositionWeightSprount Social1,500$66.69S$40,0251,50000%Datadog120$117.01S$14,02512000%Braze800$37.49B$30,00008003.5%Xometry300$27.69B$8,3151,2001,5003.4%Unity400$26.59B$10,6451,3001,7003.7%Procore50$79.49B$3,9805506003.9% Sprout Social reported yet another disappointing quarter with revenue growth forecasted at 10% for the full year. The company continues to report growth in bookings in the mid-high 20% range but somehow the bookings never translate into revenue…
Most subscribers are probably more than a bit aware that the last 5 days in the market have been abysmal, and most abysmal for any kind of growth stock. The mood reversal is significant-fear gauges such as the VIX have risen by 40% in just since February 14th. While the SPY has fallen 3.8% since…
The last two days have seen a noticeable pull-back in high growth IT shares. One reason might be renewed interest rate angst. The Fed minutes published yesterday suggested that the probability of an interest rate cut is low over the next two or three Fed meetings. This sense seems to have animated a sell-off in…
Summary Pagaya’s recent results and strong 2025 outlook hinge on ending write-offs and impairment charges, with management confident in improved visibility and reduced future impairments. Pagaya’s AI-driven subprime lending model, despite past transparency issues and significant impairment charges, shows promise with improved credit standards and a diverse range of lending partners. The company’s strategic partnerships…
We made some significant changes in our income/stability portfolio. We eliminated our entire position in shares of Dassault Systemie. We felt that there were more interesting companies that are paying dividends in which to invest. While slow growth is not necessarily something that motivates a sale, we obviously look to find companies with greater growth.…
The earnings of several tech companies have been released this afternoon. Confluent’s earnings were reasonable, and belied some concerns that have held the shares in check for a few weeks. Guidance, while typically muted was better than feared. Upstart reported very strong numbers and upside guidance; the shares were up 27% pre-market. Surprisingly weak numbers were reported by Blackline, and its…
We bought an additional 200 shares of Nebius this morning. We paid $40.49 for this latest lot so the total cost was $8110. That increased our margin balance to $303,695. That brought long exposure to about 127.5%. That brings our holding of Nebius to 1600 shares. That brings the weight in the high growth portfolio to 4.95%.This change…
Atlassian (TEAM) burst on the investment scene a few years ago with a seemingly unstoppable collaboration offering, Jira. Through a series of both internal developments and acquisitions it assembled a portfolio of collaboration tools for developers. It had a somewhat unusual business model with far lower than average sales and marketing expense ratios but elevated product development…
As mentioned in the commentary, the announcement of substantial tariff increases has led us to take some action with regards to the high growth portfolio. We felt compelled to sell Global-e. Global-e’s business is based on direct to consumer international e-commerce. Essentially all of its revenues are based on either shipping or selling or a combination of…