October was a big month for Bitcoin and a bad month for stocks. Overall, this led to a flat month for me. I feel good on my portfolio.
Buys: $AMZN, $PTON, $ZM, $SE, $SHOP, $DKNG
Buy commentary: $AMZN is a recurring purchase, but I have a ton of confidence in this company. I will keep building my position. I established new positions in $SE, $ZM and $SHOP. I feel very strong on $SE and $SHOP. During my review, these companies looked amazing (great management, optionality, long term focus, etc…). The main concern was around valuation, but clearly I got over it. Speaking of valuation… I also bought $ZM. This is a test position. I’ll keep it if they show successful signs of optionality. $DKNG is a tough one for me. I’ve been off an on this stock, but its going to be a booming industry. I’ll ride the wave up.
Sells: $CASY, $SAVE, $PINS, $EASDY, $DOYU, $HUYA
Sell commentary: $CASY is a nice stock. I think it will do well long term, but I have better places to put my money. $SAVE and $EASDY were recovery trades that I gave up on. I don’t love the businesses, they were just cheap. I should learn my lesson from those purchases. $DOYU and $HUYA are accounts I sold to consolidate into $NERD. I’ll trust (and pay) the index on gaming and save myself a lot of time. $PINS is a hard one. They are a booming stock, but I think its gone a little too far, a little too fast. Nothing wrong with taking earnings (especially when you don’t fully trust management). I just don’t think $PINS will be a $500B stock in the future, but it could be $100B. Its a trim, not a sell.
Check out the portfolio tracker in the upper right for more detail.