Monthly Newsletter 05/17:


Topics: Quote, Portfolio Update, Portfolio Discussion, More Books, What’s your “WHY”, & Monthly Munchies.

A great monthly update as always with insightful personal notes :) I've added Modern Monopolies and The Almanack of Naval Ravikant to my reading list. Also really cool that you found the free version of the book on the web. Thanks for sharing Yegor
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Today last set of my companies ( $FF & $IAC ) are releasing after the close their earnings. I will go over them & afterwards will do post on my thoughts on all of the earnings that have happened for my companies.

Including $VMD $SPOT $SFM $LKQ and many others


If you are interested, check out & subscribe

After earnings post, I will release monthly post to not overcrowd everything.
Barry Diller Podcast
Diller is a legend.

Did you know he started working in the mailroom? He spent his time there reading all he could about the entertainment business.

📚 This is Barry Diller the Infinite Learner - as told in the first part of Reid Hoffman's excellent podcast interview.

But it is Diller's ability to unlearn, the title of the second part of the podcast, that is perhaps his greatest secret weapon.

He has an almost uncanny ability to change and adapt to a fluctuating world, something that has helped him stay on top for so many years.

Both podcasts are almost mandatory listening for anyone trying to understand the characteristics that add up to outstanding success.

IAC's Vivian Health announces $60M investment led by Thoma Bravo with participation from $IAC and Collaborative Fund.
The new capital will be used to further scale Vivian's growth as well as to support future merger plans.

Vivian was acquired by IAC in 2019. The company offers employers a way to fill a variety of healthcare jobs, including permanent roles, per-diem shifts, local contracts, and travel positions.

Vivian said over 700K registered clinicians use its jobs marketplace.
IAC is trying to solve the same issue in a multitude of verticals, yet the problem being solved is very distinct in each (travel, home services, health ....) I sometimes wonder to what extent there are internal frameworks as to what needs to happen in order to create a self-reenforcing flywheel; sometimes, opportunities may be very transient -- Covid was a unique opportunity to onboard a lot of people to digital very quickly.

It makes it quite hard to find a good framework as to what a good valuation model for IAC looks like (TAM seems like an overkill while revenues of existing business lines may substantially understate potential..) Fascinating business, IMO.
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Keeping some money on the sidelines
Took some more minor profits from $TWTR pre market to keep my stake below 5%

Need to stick to the rules and will only be adding below 30ish

I really don’t know how things will be with growth in the coming quarters and with rising rates wouldn’t be surprised that growth stocks will be going lower, my exposure to growth is already too much (in my opinion) and so I want to keep some cash on the side lines and use it for selling out options

With current cash looking to add to $SPOT $PYPL $IAC $WBD if we to go lower…

Current cash in % about 5%
Monthly Newsletter 04/10:
Current Holdings: $VMD $IAC $SFM $SPOT $PYPL $LKQ $FF $OZK $CVS $WWE $HII $TWTR $DISCK $OPFI $GOOG $MITK $OPRA (from largest to lowest)

Topics: Announcement, Quote, Portfolio Update, Portfolio Discussion, More Books, Tax Season, & Monthly Munchies.

For this month I (got some courage) and decided to do two types of posts.

One regular with the usual stuff and one with an audio format in the beginning to be used as a companion while reading the post.

I always loved the idea of podcast or making videos on youtube (I actually used to make youtube videos as a teen when I played Call of Duty on Xbox with commentary) but I do not have time to trim and edit video format but when it comes to audio I think its a bit easier to manage so I gave it a go!

If you want regular format without audio you can click here

If you want the new format with audio in the beginning you can click here

Your honest feedback would mean a lot to me, but do give me a bit of a credit and some slack as this is my first attempt and I did it around 10-11pm.

Hope to get some feedback and to keep on trying it at least a few more times (unless everyone will hate it lol)

Thank you!
LT's avatar
$2.7m follower assets
2021 Lessons Learned: Trading/Speculation Turned Buy&Hold
I learned a lot in 2021 - had many losers with sizable losses $VMEO $IAC (call) $GEVO $ME $CTXR
I'm forgetting some
$FIGS turned out to be a loser but I sold at a gain

But a handful of trades made up for the losses, nearly double $AABB $GRTS $GME (short)
Those were the main ones

Lesson: a couple winners can make up for many losers. Luck also plays a big role, especially for short term speculation

Given up a big chunk of 2021 gains through 2022 already. We'll see how we end the year though, I think I'm decently positioned. Majority of my portfolio is in profitable growers at reasonable valuations. Have decent portion allotted to potential multibaggers

Profitable growers at reasonable valuation: $GOOGL $PUBM $FB $EVVTY $LEAT
This portion makes up 79% of my portfolio

Unprofitable potential multibaggers: $TUEM $SLGC $NAUT
This portion makes up 21% of my portfolio
Hi @logicalthesis, welcome to Commonstock! Thanks for sharing some of what you've learned recently. I like that you're seeing learning opportunities in both your winners and losers!
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Monthly Edition Newsletter 03/16:

Topics: Personal Update, Portfolio Update, Portfolio Discussion, More Books, Don’t Share Your Edge, & Monthly Munchies.

This one is a bit more personal due to what is going on in Ukraine...

Thanks for sharing this update on both your family and your portfolio.
Regarding “sharing your edge”— you make a good point about cannibalizing your own edge by sharing. A nuanced point I’ll add is that many ‘edges’ are well known, and the fact that they persist is not because others don’t know about them, but because of some attribute that precludes them from copying.
For example, professional money managers have a host of industry expectations that force them to make short term decisions. I know some money managers who would like to utilize strategies that make money on a longer time frame, but their job requirements won’t allow it.
For a retail investor, that creates a sustainable reason why long term investing will work, even if the whole world knows about it.
There’s quite a lot of fun to be had in utilizing the edges that persist despite being well-known.
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