I really enjoy your posts Eric! Simple but not always easy sums it up. If you feel so inclined, I'd be curious to know your YTD returns and positioning whenever you post as a means of providing context for your most recent thoughts. But you are already putting a lot out there so understand if you prefer not to do so. Thanks for posting!
Hey Ryan - thanks for reading and for the comments! I'm trying to limit any "performance review" posts to once a year, because I think that anything shorter than a few years is probably just noise / luck, but for what it's worth:
YTD Returns: ~2%
Positioning: 47% in cash still. And of the invested portion, ~half are in non-USA companies.
I was actually nearly fully invested a few weeks ago, but then realized that most of my new positions were "average but not great" situations, which inspired this post. The companies were generally high quality (GOOGL, TGT, FB, MQ, MU, ING, LNSTY), but were probably closer to "fairly valued" than "cheap."
It's possible that some of these companies never get cheap enough to be interesting, and probable that they do better than cash long term, but I'm OK with that. Most of my best investments have been "obvious" buys in terms of large discounts to intrinsic value. My plan is to wait for those opportunities to continue to materialize, even if it takes a while.
Happy to chat more in person too (maybe once cases settle down here :P)
Short and sharp. Ty for taking the time to share.
I really enjoy your posts Eric! Simple but not always easy sums it up. If you feel so inclined, I'd be curious to know your YTD returns and positioning whenever you post as a means of providing context for your most recent thoughts. But you are already putting a lot out there so understand if you prefer not to do so. Thanks for posting!
Hey Ryan - thanks for reading and for the comments! I'm trying to limit any "performance review" posts to once a year, because I think that anything shorter than a few years is probably just noise / luck, but for what it's worth:
YTD Returns: ~2%
Positioning: 47% in cash still. And of the invested portion, ~half are in non-USA companies.
I was actually nearly fully invested a few weeks ago, but then realized that most of my new positions were "average but not great" situations, which inspired this post. The companies were generally high quality (GOOGL, TGT, FB, MQ, MU, ING, LNSTY), but were probably closer to "fairly valued" than "cheap."
It's possible that some of these companies never get cheap enough to be interesting, and probable that they do better than cash long term, but I'm OK with that. Most of my best investments have been "obvious" buys in terms of large discounts to intrinsic value. My plan is to wait for those opportunities to continue to materialize, even if it takes a while.
Happy to chat more in person too (maybe once cases settle down here :P)