Where does Unity Software go after combining with Iron Source Willie Sutton was known as an innovative bank robber using innumerable disguises and multiple scenarios. Of course he was credited with the quote about robbing banks “because that’s where the money was.” The “theft” of Iron Source (IS) by Unity Software (U) is not perhaps as…
Salesforce-A recommendation for a perilous market The title of this article comes from a quote by Ray Bradbury, a well known author, whose most famous work was “Fahrenheit 451.” I thought it particularly appropriate after the months of share price bloodletting. I have not written about Salesforce (CRM) on the SA platform for about 4 years now. I…
This morning Iron Source and Unity Software announced a merger agreement. The exchange ratio has been set at .1089 shares of Unity for each share of Iron Source. Unity shares fell on the news, and also fell as a reaction to the very hot inflation print announced earlier today. Unity, as a business, has run…
Assessing the outlook for Pure Storage in a recessionary environment Why look at Pure Storage (PSTG) shares now? There are an abundance of investment opportunities within the high growth IT environment. Some readers and commentators, I suppose, will say that this is a function of the relative valuation of a bubble valuation, and the valuation…
Upstart, one of the principal fintech names on which we have focused, and a component of our high-growth portfolio, preannounced very disappointing financial results for the quarter that ended 6/30/22. Revenues of $228 million were almost 25% less than the forecast the company had provided on May 9, 2022. The company has projected a net…
One subscriber suggested to me recently that it was time to adjust the portfolio to the realities of the current environment. Basically, that means more of a focus on free cash flow margins, and less of a focus on turnaround or developing stories. I thank the subscriber very much for giving me a kick in…
Baked in or not Baked in-That is the question. This has been a less than stellar year in which to invest in the ad tech space or even in the tech space or in equity markets. But sometimes less than stellar investment results can result in investment opportunities. I think it would be hard for…
In recent weeks, I haven’t made any changes to the high growth portfolio. The selling pressure has been so sustained and indiscriminate there really weren’t the kinds of opportunities for which I look. But I did decide that selling the 1900 shares of GAN in the portfolio, and using the funds to increase the holding…
Oracle-It has reached an inflection point Oracle hasn’t been the best loved or best performing software investment for many years. The company’s transition to the cloud has been long, arduous, and probably has not achieved the results for which investors were hoping when it got started. Over the past decade-that’s right, decade-Oracle revenue has risen…
Reviewing a recent visit with Iron Source Management There is not much positive to say for the current phase of the market. Indiscriminate selling, margin calls, an atmosphere of fear. While the Fed’s latest set of what are called dot plots is relatively benign, investors seemingly believe more apocalyptic scenarios. More and more economists, corporate…