Josh Kohn-Lindquist's avatar
$8.3m follower assets
5 Thursday Additions and 2 New Positions
I added to my core 34 position in $GLBE but also made secondary purchases in $COIN and $W since the markets have throttled them.

I also started new watchlist positions in $IDXX and $DXCM.

Last but not least, I bought some $DOCN and $LTCH for my daughter's account. Technically, DigitalOcean is one of my core 34 holdings, but it was for her account today.

Over time, I will continue adding to Global-e Online as its position needs to grow. Coinbase and Wayfair may get one more tiny purchasing round, but much farther down the road.

Idexx Labs and Dexcom fascinate me, so I just wanted to remember them.
Who performs the best over the next decade?
19 VotesPoll ends on: 05/22/22
E-Commerce Sell-off
Right now the total market capitalization for $MELI, $SE, $CPNG, $SHOP, $ETSY and $GLBE is about $135 billion.

These are the dominant forces in their respective geographies and niches.

Furthermore, depending on the valuation you'd like to give to $AMZN's AWS segment, its e-commerce operations look very cheap now (if not damn near free).

Now compare this $135B and whatever Amazon's e-commerce operations are worth with global retail e-commerce figures expected to reach $7 trillion by 2025.

This is an apples to oranges comparison, and many other companies are involved -- but this difference feels too large not to at least acknowledge.

One year ago, Sea was worth $180 billion alone.

Now, this whole group is $135 billion.

The risk/reward has become fascinating across these stocks -- Amazon included.

And all of this comes with no mention of each company's optionality -- most of which are still relatively nascent.

Call me a sucker for roughed-up growth stocks, but I will gladly keep adding.
Of these seven stocks, how many will be multibaggers by 2030?
12%0
39%1-2
39%3-4
9%5+
41 VotesPoll ended on: 05/14/22
I’m not a fan of Etsy because as many times as I’ve shopped there, I’ve never once purchased anything. Not sure how they can outcompete anyone. EBay gets my money every time, the Etsy sellers had limitations on payment (only PayPal), higher prices, shipping costs, etc. Mot familiar with $CPNG or $GLBE but even as a value investor have been looking at the other 4 mentioned.
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April 2022 Bloodbath - Names Down >30% Since April 1
April 2022 was one of the worst market months of all time. In fact, it was the worst since October 2008. Here are 100 stocks down >30% since April 1:


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Beaten-down 2021 IPOs
I love avoiding new initial public offerings for their first couple of earnings reports as a publicly-traded company -- but even more so, I love revisiting them after this 6-12 months.

Life as a newly public company is rough as expectations from analysts are wonky, and management is adjusting to a new lifestyle of increased scrutiny.

With this in mind, here's a list of 2021 IPOs I'm watching that have traded down since going public.

$RSKD Riskified -74% | $PATH UiPath -67% | $COOK Traeger -66% | $BIRD Allbirds -65% | $MQ Marqueta -64% | $CPNG Coupang -62% | $OLO Olo -56% | $COIN Coinbase -53% | $APP Applovin -51% | $EXFY Expensify -44% | $USER UserTesting -42% | $BMBL Bumble -42% | $WRBY Warby Parker -40% | $AFRM Affirm -39% | $WEBR Weber -37% | $NU Nu -31%| $RBLX Roblox -30% | $SEMR SEMrush -27% | $FIGS FIGS -27% | $MNDY Monday -13% | $DOCN DigitalOcean -11% | $CFLT Confluent -8% | $GLBE Global-e Online -6% |

Curious to hear what you all may like the most from these?

Out of this list, four are part of my Core 34 group of holdings that I aim to add to the most here in 2022.

Have a good weekend, friendly humans.
With of the four from my core 34 do you like the most?
42%Coupang
31%Roblox
15%DigitalOcean
10%Global-e Online
19 VotesPoll ended on: 05/02/22
3 Tech Stocks I'm Buying for the Long Haul
I touched on three of my favorite tech stocks, which currently are part of the "Core 34" group of stocks that I am allocating most of my money to this year.


A quick highlight for each:

  • $ROKU's advertising capabilities are being slept on by the market, especially as its free Roku Channel grows in importance. I wrote this article before Roku's Q1 earnings (which looked great and will get a write-up soon), but they reinforced my optimism about the company.
  • $SHOP still looks excellent and is almost difficult to digest with everything it is trying to do. However, its international potential is incredibly intriguing -- especially with its partnership with (and ownership stake in) $GLBE.
  • Finally, $SE is a bet on trusting management to deliver on its expectations to start self-funding growth in Shoppee and SeaMoney by 2025. Judging by its skyrocketing gross profits (up 2,800% versus 680% for revenue) over the last three years and I am not one to doubt them yet. Garena's cash flow feels like equal parts huge benefit and significant risk right now, and I'd love to see them build cash-generating optionality throughout the company.
My $GLBE trades
Adding more $GLBE. Last purchase before earnings in a few weeks.

  • Price and multiples have come down to more reasonable levels
  • Huge industry tailwinds with international eCommerce outpacing domestic growth
  • Direct to consumer and online retail trends are also in Global-e's favor
  • Shopify partnership/Flow Commerce acquisition opening up new customer bases

Risk: Russia-Ukraine conflict and China-Taiwan tensions have led many to speculate a de-globalization trend so this is certainly a risk to watch.
25 for '22
This year I plan to build out more significant positions in these 25 stocks - partially due to lower prices, but primarily due to long-term mega-trends supporting each.

Curious if any of these looked terrifyingly bad (or good) to you all?

Ryan Mahony's avatar
$17.5m follower assets
$SHOP has tens of thousands of merchants on a waitlist to enter its Shopify markets global selling platform when it is more generally available. Also good news for $GLBE which seemed to be up on that comment.
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