(1) Reassessing low-conviction positions. Whenever the market takes a downward turn, I am able to better evaluate my positions to see which I am most comfortable in and bullish on and which I would rather rotate into my winners. Over the last two weeks, I have reassessed a variety of positions, deciding to hang on to some small positions that I am unsure about for now ($CLOV, $IPOE, etc.), while selling some others ($FSLY & $FUBO).

(2) Adding to highest-conviction positions. With good prices available the last two weeks and increased confidence in some companies following recently reported excellent quarters, I have added to some of my favorite companies. This week, for example, I added to $PTON, $DKNG, $TWLO, $TDOC and $PTON, while making $SE the largest position in my portfolio.

(3) Making sure I truly understand all my positions. As someone currently holding ~40 positions, it is important to ensure that I truly understand all of my companies and confidently feel that I can explain them to others. When the market is up, it is easy to justify holding any company. When it is down, this is not always the case

(4) Most importantly, doing anything other than stare at my shrinking portfolio. Investing is a long-term game. Right now, I am back to where I was at the beginning of December. In a few years, I anticipate that I'll have no idea this pullback even happened. So sit tight, don't panic, and stick to your process.

Would love to hear what everyone else is doing. Pullbacks are never fun, but they are a great time to improve your investing style and reevaluate your positions.

The healthcare industry is one that is clearly outdated, and from insurance to technology, it is in massive need of disruption. Some companies I am excited about:

$TDOC - telehealth and chronic condition monitoring services

$NNOX - advanced, cheaper, more effective x-ray machines

$LGVW - portable, handheld ultrasound device

$TMDX - machines with the capability to transport live organs

$CLOV - innovative, AI-backed insurance offering for seniors

$ARKG - Ark ETF covering gene-editing, CRISPR, and other themes

Two that I have been watching, but do not own shares of:

$GDRX & $NARI

What are your thoughts on these companies, and what companies am I missing? I plan to post a longer thread either here or on Twitter sometime soon about why I believe these companies in particular are so disruptive.

Hi everyone, I thought it might be useful to share where I get my stock ideas, especially for anyone building or looking to add to a portfolio. (Note: I am not trying to sell anything, but just thought this might be useful to some).

What resources am I missing? I know paying for a service is never ideal, but for anyone looking to build a portfolio, the reliability of some paid services is absolutely worth the cost. Thoughts? Feel free to reach out with any questions!

A company's moat, or its ability to prevent others from disrupting its market, is an important part of its ability to have success over the long term. When analyzing companies for investment, I pay careful attention to the moat.

I look at the following six factors:

What other moat factors do you all look at?

When considering an investment in an international stock, whether it be a popular one ($MELI, $SE, $OZON, etc.) or a more obscure one, it is important to do your research. Here are seven factors that I think should be considered when researching any international stock (and some sub-questions that are worth asking):

How is the product/service being offered perceived culturally?

What is the cultural relevance of the business?

How, if at all, do these differences affect this business relative to its American counterpart, if one exists?

Can the country/region’s infrastructure adequately support the business?

How would improvements in the infrastructure affect the business?

What is the current state of this industry within the country or region?

Is there a need for disruption, and importantly, is that disruption possible?

What competitors exist, both locally and internationally?

How is the overall economy in the country faring?

How is the relevant sector affected by the economy?

Are there any economic trends that I should be concerned about?

How, if at all, could inflation affect my investment?

How do government factors (corruption, security, elections, regulation, etc.) impact the company or industry?

Are there specific risks to the company as a result of the government?

Are companies held to the same level of scrutiny as American companies or are they based in countries that are notorious for shady standards (Russia, China, etc.)?

Considering the aforementioned factors along with population etc., what is a realistic estimate of the TAM and growth opportunity?

What other factors do you all look at, and what are some of your favorite international stocks?

A few days ago, I posted a list of some of the themes that I thought would define the 2020s. Below is a list of the top five themes in my portfolio:

I understand that these categories are very rough estimates. The stocks within my SaaS basket, for instance, can hardly be grouped into one, and the same can be said about the "remote lifestyle" basket. Nevertheless, these themes help me to understand where I am significantly invested (e-commerce) and where I want to invest more (real estate disruption; clean energy).

Which themes top your portfolio, and which are you hoping to add to?

Over the last decade, BRIC countries (Brazil, Russia, India, China) have emerged as new-world economic players, building some of the largest economies in the world and competing with the U.S. and Western Europe. In the process, these countries have offered some compelling investments for American investors: Alibaba ($BABA) and Tencent ($TCEHY) in China, StoneCo ($STNE) and PagSeguro ($PAGS) in Brazil, and so on. In the last week, however, Fintwit and other investing platforms have been ablaze with a new IPO out of Russia: Ozon ($OZON). An e-commerce company modeled after Amazon, Ozon has grown rapidly during the pandemic, and its stock has taken off in the U.S. as part of this year's e-commerce craze. Like many of today's international e-commerce darlings, MercadoLibre ($MELI), Sea Limited ($SE), and Jumia ($JMIA) to name a few, $OZON has the potential to be hugely successful, but there are also some concerning risks that investors should be aware of. This memo outlines some of the benefits of investing in Russia as well as some of the biggest risks.

Since the collapse of the Soviet Union, Russia's economy has developed into one of the largest, and surprisingly one of the more advanced, economies in the world. Russia is the 9th most populous country in the world, and its economy is the world's 11th largest. The country has emerging IT and telecommunications industries and rich deposits of valuable natural resources. Importantly, Russia has the 7th most internet users in the entire world, the highest level of any European country.

All in all, this bodes well for e-commerce and other internet-based trends in the country. The well-educated, internet-using population could certainly be a catalyst for the rapid development of e-commerce in the region. With a massive market opportunity, there is plenty of room for companies like $OZON to grow, making them a compelling investment.

Despite the size and the quick development of the Russian market, there are serious risks to investors that must be considered:

Overall, in one form or another, significant risks exist in just about any developing economy. Although companies like $MELI and $SE have proven their worth, they too face risks that American companies typically do not have to worry about. Nevertheless, I have closely studied these risks and feel like the risk-reward is worth it for $MELI, $SE, and others. The same cannot be said, however, about Russia, and thus I do not plan to start a position in $OZON any time soon.

https://www.investopedia.com/insights/worlds-top-economies/

https://www.thebalance.com/the-ultimate-guide-to-investing-in-russia-1979064

https://www.barrons.com/articles/ozon-stock-surges-34-in-ipo-in-u-s-what-investors-need-to-know-about-the-russian-online-retailer-51606255675

https://www.benzinga.com/news/20/11/18497391/ozon-ipo-what-investors-should-know-about-the-amazon-of-russia

Buying a house and buying car insurance are two essential, painful, and high-expense parts of many American adults' lives. Despite the prominence of these markets, each is outdated, fragmented, and could hardly be described as consumer-friendly.

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Some statistics to demonstrate this:

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From the Metromile investor presentation (https://assets.metromile.com/wp-content/uploads/2020/11/24120556/Ext-Investor-Preso-vFinal.pdf):

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From the Opendoor investor presentation (https://www.opendoor.com/w/wp-content/uploads/2020/09/Opendoor-overview-investor-presentation.pdf):

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The point is, these two industries just flat out suck. 65% of people get screwed on their car insurance. Nobody likes buying and selling a home, and doing so is such an awful, costly process that it overruns your life. Throughout the course of a person's life, the amount of time and money they waste trying to deal with outdated real estate and insurance systems has to just be astronomical.

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Now, Metromile and Opendoor are two companies looking to fix these problems.

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First, for car insurance: Metromile.

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On to real estate: Opendoor.

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Therefore, neither of these companies has to dominate the market to be a winner. By simply expanding to more states, which both intend to do, $IPOB and $INAQ can be huge winners, and both certainly have the potential to be market leaders. I currently hold a position in $IPOB and will be starting one in $INAQ soon.

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Would love to hear everyone's thoughts about these companies! Thanks for reading!

Hello everyone!

I am very excited to be a part of this platform and am very grateful to @mcd for all of the hard work he has put in developing this incredible platform. I have just started exploring all that Commonstock has to offer, and I am looking forward to being along for the ride as this platform grows.

A bit about my investing strategy: I am a young investor with a long-term, buy-and-hold outlook. I am looking for innovative, disruptive companies with mass appeal to younger generations and huge growth potential. Overall, my portfolio is molded around two main ideas, both taken from the great David Gardner:

Those trends are the subject of this post. See below for my thoughts on ten exciting trends that I believe will come to define the 2020s, as well as some of my top investment ideas for each!

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1. E-Commerce - As society becomes more and more interconnected and focused on convenience, e-commerce is a trend that is poised to thrive. We have already seen the potential that e-commerce can have with $AMZN, but there is plenty of exciting potential elsewhere as well. Over the next decade, I expect e-commerce to thrive globally. Top Ideas: $AMZN, $SHOP, $MELI, $SE . . .

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2. Financial Technology - Young people are increasingly distrustful of banks and increasingly excited by technology-based companies that help manage and improve financial outcomes. At the same time, banks have historically left out significant portions of the population and have lost the faith of the people in countries across the world (Brazil, etc.). Some very exciting companies have emerged to fill this void, and I expect great results from them over the long-term. Top Ideas: $SQ, $PYPL, $MA, $STNE . . .

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3. Software-as-a-Service (SaaS) - Over the last few years, a plethora of high-growth, exciting software companies have emerged. These companies offer cutting-edge services that save others time and money, while making business operations faster, more efficient, and more valuable. All SaaS companies will definitely not be successful, but the best of them have huge runways for growth. Top Ideas: $CRWD, $DOCU, $DDOG, $TWLO . . .

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4. Advanced Technology - As society advances, people's technological needs become more specified and more advanced. While this shift has left some historical winners behind, it has accelerated the growth of a handful of exciting advanced tech. companies. Top Ideas: $NVDA, $AAPL, $GOOG, $MSFT . . .

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5. Clean Energy - With climate change as a prominent issue, society is making a massive shift towards clean energy sources. Alternative energy sources such as solar and nuclear power are gaining more and more traction, while electric vehicles are captivating drivers across the globe. This is a young, crowded space, but some leaders are certainly emerging in this high-growth industry. Top Ideas; $TSLA, $MP, $SEDG, $ENPH . . .

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6. Healthcare - The healthcare industry is outdated, inaccessible, and undesirable to patients throughout the world. Between costly insurance plans, outdated technologies, and absurd prices, there is plenty of room for disruption. In the last few years, dozens of thrilling companies have emerged to fill these voids, and offer promising returns to shareholders over the next decade. Top Ideas: $TDOC, $NNOX, $ISRG, $TMDX . . .

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7. Remote Lifestyle - Coupled with the interconnectivity that has been brought about by globalization, the COVID-19 pandemic has accelerated a societal shift to a more remote lifestyle. This does not necessarily mean work from home, but rather an overall trend in which people across the globe can access essential services, conduct international meetings, and hire global talent from the comfort of their own home. Not all pandemic winners will thrive over the next decade, but some certainly will. Top Ideas: $ZM, $FVRR, $PTON, $WORK . . .

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8. Real Estate - In the United States specifically, the real estate industry is outdated, inefficient, and complicated. In recent years, a couple of innovative companies have debuted compelling alternatives to the traditional real estate system. In such a large industry, these companies offer investors a unique opportunity to invest in high-growth, easily understandable companies with a massive TAM. Top Ideas: $RDFN, $Z, $IPOB . . .

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9. Genomic Revolution - Gene editing companies have burst onto the scene over the last few years, promising revolutionary cures to complicated diseases and a massive shift in global medicine. An investment in these companies is highly speculative, but there are some incredible companies with the potential for huge returns in this industry. Top Ideas: $ARKG, $NVTA, $CRSP, $EDIT . . .

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10. Online Gambling - Online gambling, and particularly sports gambling, is a quickly growing market in the U.S. and globally that offers potentially huge returns for investors. There are some regulatory hurdles to clear, but I believe that those hurdles will be cleared over the next decade and that some big winners will emerge in this industry. Top Ideas: $DKNG, $PENN . .

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Thank you so much for reading this post! I would love to hear anyone's thoughts or comments on these trends or additional companies/trends that you believe will thrive over the next decade. I will be posting more thoughts on this platform over time, and I also post additional ideas on my twitter @ztinvesting!