Sold Huya, IQIYI, Bozun, HDFC Bank

March 26, 2019

Hey everyone,

First… if you’re already investing and feeling some pain from Friday and yesterday, take a breath and know you’re not alone.

My portfolio was down roughly $30,000 on Friday and roughly $3,000 yesterday. That’s a lot of money. I’m not panicking. Panicking destroys long term returns. Even after these last two days, my portfolio is up by $106,000 year-to-date and up 35.7%. I’m not saying that to brag. I’m saying that to give perspective to the last few days.

Remember, our goal is to be life-long investors and to never invest money we might need in the next 3 years. That’s how we ignore the short-term panicking and stay focused on the long-term

Quick update today...

Trying to be respectful of your time, but also let you know when I make portfolio changes. Not because I think people should follow every investment decision I make, but because I want to provide transparency and use this almost as a journal to show you (and myself) what I’m thinking.

Let me know if I’m sending too many emails!

On 3/25 I sold completely out of the following positions: HUYA, IQ, HDB, BZUN here’s the prices I sold them at.

IQ - $23.64

HUYA - $25.21

BZUN - $36.29

HDB - $112.64

I sold these because I just wasn’t comfortable holding them. They were all starter positions… so no more than 1%-2% of the portfolio each. This brings the question, “Why not just hold them and see what happens? “ That’s a good question. My portfolio was sitting at about 20 companies which was more than I personally wanted. I also wanted to raise some cash (cash is now about 10% of my portfolio) to have ready to either add to my highest confidence positions, or invest in Zoom, Slack, or PagerDuty which will be coming public soon. When a company comes public it’s called an initial public offering (IPO).

Investment links…

I talked about adding to my highest confidence positions. Right now those are The Trade Desk (TTD), Twilio (TWLO), Mongo Database (MDB), and Alteryx (AYX). I’ll cover these more in depth on Friday in my monthly portfolio review. But for now, here’s two links to articles I wrote about TTD and TWLO.

And some links to articles outlining Zoom, Pager Duty, and Slack

Thanks for reading. Hit me with any questions/requests/feedback please!

Austin

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