Portfolio changes - update 1
So I already made some changes on Thursday and Friday.
- Sold $ZM - not a bad company by any means but since I'm doing some consolidation I decided to cut due to heated up competition with $GOOGL's Meet and Chat + $MSFT going straight after not only Zoom's core offering but even after their growth parts (take Zoom Phone vs Teams Phone as an example), but with one problem - Microsoft is including Teams into Win11 by default and including all the good stuff Teams has for businesses into Microsoft 365 packages which businesses already pay for, therefore the value proposition should be better than paying for additional service. So those are the headwinds I'm seeing.
- Sold $DOCU due to troubled execution of Agreement Cloud, I was looking for an improvements this quarter, but since it's been a while now and they just recently hired a new president of global operations which should help them do just that, I don't expect any significant improvements this quarter really. I'll consider adding to my $ADBE where I see a pretty good execution of the Document Cloud and great relationship with Microsoft which already uses their solutions and integrates well within Office package.
- Sold $KIND simply due to other ad-tech names coming down substantially, I see them as more lucrative and proven than say Nextdoor in the current context. Simply a consolidation decision.
- Added to $HUBS and $MELI after stellar execution and fantastic results. They definitely are the winners I consider a core part of my portfolio.
I'm thinking of some other changes at the time though not yet decided, mainly around streaming services, so think $NFLX and $DIS. I've been also rewatching Tony Seba's notes on Energy, Transportation, Agriculture and Food: https://youtu.be/Kj96nxtHdTU brilliant mind, go check it out, it's bonkers!!, and also watched the RethinkX film which explains all the fundamental shifts coming this decade in a perfectly understandable and fascinating form - https://youtu.be/r71yNnfY6ss
I definitely want to adjust my portfolio to that too, so there's some more thinking going on inside my head.
Have a great rest of the weekend!