notoriousGROW

@Jaro_rogue Which part of the guidance is insane @Jaro_rogue ? Felt they were lowballing both growth and net income from the last quarterly call.

We have no position in $SEZL but this is insane guidance

@Jaro_rogue 100% agree.. we been too nice to Iran!

This was inevitable honestly, the US can’t have Iran as a nuclear threat imo

From Iran means we’re about to have probably the biggest Middle East war in at least 50 years.

@Jaro_rogue @Iron_Mick777 i figured that's why you managed your $sezl position the way you did.. congrats on the first year @Jaro_rogue .. what is the AUM now? How are you enjoying running a fund?

Long post: I've learned a few things that I guess I wasn't expecting. 1. Running a fund isn't exactly like retail especially a fund that is scaling relatively rapidly as a % of AUM. Also, in terms of risk management it is different because there is only a certain amount of volatility you can expect your investors to handle but I knew that going into it and it's not something I was surprised by but overall my investors have been great in cycles of downturns and it is something I look for in my investors. But mainly even with a concentrated long term portfolio it causes a lot of portfolio turnover, which I knew would happen but I didn't realize how much more research this causes you to do as an investor. For example: Sezzle basically 8 bagged from when I initially wrote about it back in July, which usually I would have just let it ride until I felt it was technically extended. Well in the middle of the rapid run-up I received multiple investors who I didn't want to overly expose to Sezzle because they hadn't experienced any of the upside so I significantly trimmed to reduce their downside risk to the investment (since they didn't experience any of the upside) since it also would have overly affected the Funds performance while being less undervalued. This created 2 issues; I needed to find more investments than I was used to which was hard since I am already extremely picky and I had to think about the consequences of marketing. Just a slightly different dynamic than investing on my own and having multiple investors to answer to. If anything though, the increased amount of research has allowed me to become an even better investor in my opinion and I think it will carry over to future years for the firm. 2. A lot of people like to verbally commit capital and then when it comes to signing the contract or committing funds they bail out for some reason or another. I expected fundraising to be my single biggest struggle but I really expected people to be better about their "word". So that was something that came as a bit of a shock to me and usually it has nothing to do with me or the Fund, as I am offering a seed structure currently of 1/10 and my expenses are super generous to my investors and the Funds performance has been good to this point and they usually know the obvious risks before they even talk to me (age, lack of industry experience, concentrated portfolio, etc.). Something about that final commitment is definitely harder for investors to swallow. I have gotten roughly 3x-4x the amount of individuals to verbally say they were going to invest and then bail when they ask me to send the final link for them to sign the documents that we went over than I have actual investors in the firm😂 the main thing I've learned from that is to just not take it personally and to decide that it was probably for the best. Overall I think this will get better as I scale in AUM and increase the minimum and it definitely makes me appreciate my current investors even more. I hold absolutely no ill-will to the investors who bail since I totally get it, but was surprising how often it happens nonetheless. 3. Speaking with some managers from different industries makes me realize how clueless I am about certain industries of the market and there's no way I could compete with them. Obviously I think people can overly indulge themselves into a company and miss the bigger cash flow picture but I think certain individuals just know where to find the data needed to make a sound long term investment better than I ever could in *specific* industries (specifically certain commodities). It makes it clear what Buffett referenced with a "circle of competence." But I've also really started to notice how knowledgeable I am in various parts of investing even compared to other value investing managers (although I have already talked to plenty of hyper intelligent value managers who I think are better than me). If I could go back a year and warn myself to do something differently? It's gone roughly how I expected it would go besides the phenomenal performance this past year (which I am obviously very happy about and my investors are as well). Other than what I discussed earlier, it has been a blast and I really do love investing and it's been a huge boost in my personal happiness and I wake up every morning super motivated. Bootstrapping the Fund from nothing was a great experience and definitely nerve-racking. My immediate family wasn't really able to help after filing bankruptcy on a business during covid so basically all my investors are friends that I made online or connections with friends either online or in person. I started out with one investor (after numerous initial investors bailed last second) and I'm not making much money from the Fund (relatively near break even now) but I gave myself a huge multiyear runway and feeling the motivation to keep driving to greater profitability has been great (you really get incentives when you start your own business). Since 2024 started, fundraising has definitely gone much better and I am always looking for new investors. I love all of the new people that I have met and definitely don't love fundraising. Something about asking people for their money is a little odd but it helps to think that they are also benefitting themselves not just helping me which has helped a lot but it was definitely a mindset that you have to get into. I am extremely lucky because my current investors have been absolutely great and are fantastic individuals. I cannot express my gratitude enough for them. I started talking to my fiancée right around when I started the Fund and she has been a massive help for me (she edited my last quarterly letter and will be editing this one) and she makes my life much easier during the busier times of the last year. I can't thank her enough. She makes my life easier and is my single biggest supporter. If you have any other questions I'd love to answer them.

First year since inception for Rogue Funds ends this month. Just making this message to thank all of the investors that have trusted a 24 year old to manage their money with zero direct industry experience. I wouldn’t be able to do this without them ❤️

@Jaro_rogue @ReidHyde @Jaro_rogue i would bet eariler then 3-5 years for a $1b+ market cap.. you are very picky with great risk management.. rest of market not so. :)

@ReidHyde Just now seeing this, I think we need to see a tech pullback in general. We’ve now pulled earnings forward a ton with $SEZL. But yeah the company is great. Management is great. I think it’ll see a billion market cap within 3-5 years.

Even though we’re out of $SEZL this fall hurts to watch oof

@smantel @smantel how you feeling after todays price action for $sezl? What you think happened today… profit taking?

$SEZL $78.10 Adding another piece here. 🙏

@Jaro_rogue Are you completely out of $sezl? Congrats… I am still in it

Experiencing our first 10 bagger was a thrill but after substantially trimming yesterday, Rogue Funds has sold out of $SEZL. Hopefully this is only a see you later.

@Austen No-title… @zappos @TonyHsiehAward used to use this title when they struggle with titles

What's the right job title for a startup when you want a super scrappy person who can basically do whatever is asked, is self-sufficient, and learns quickly? But spans multiple departments/roles. Asking for a friend.

@Jaro_rogue Insane and great climb… still have a bit of room to go.. thanks for following $sezl and introing it to @X … @Jaro_rogue

$SEZL up to $70 now its such a machine. An absolute INSANE 6 month climb.

@TradingAndy008 Happened again today.. $sezl

$SEZL mystery buyer bought $4.5m in 3 trades. Will they buy more? Who is the buyer? Who is selling these blocks? Does this relate to the banking partnership?? $affirm $paypal $sofi

@TradingAndy008 Happened again today… most likely a hedge fund?

@TradingAndy008 You think it’s the company buying back stocks?

@anandkhatri @FromValue $mndy?

$CRWD note from the Morgan Stanley technology conference: “CrowdStrike is one of three public SaaS companies that are GAAP profitable and growing at a rate of 30% while projecting 30% revenue growth.”

@anandkhatri @FromValue What are the other 2 companies beside $crwd?

@TradingAndy008 How is net inflow calculated @TradingAndy008 ??

$SEZL smart money is arriving, biggest inflow of capital this week, buying slow & steady!! 🚀🚀🚀 $AFRM $SOFI $SQ

@AndyHan45584438 @JonahLupton @AndyHan42638619 @AndyHan45584438 another question: what do you think it takes for $sezl to be at $1b market cap - revenue, growth, margins? how long do you think it'll take for them to get to the $1b market cap?

@JonahLupton @NotoriousGrow @AndyHan42638619 Noted ☺️ I’ll come back in a couple weeks once we there 🥳

$SEZL analyst ratings starting to appear…

@JonahLupton @AndyHan45584438 @AndyHan42638619 dang @JonahLupton .. $SEZL.. not $CELH.. thats how good you been at leading the $CELH charge!!!

@JonahLupton @AndyHan45584438 @AndyHan42638619 @JonahLupton you should take a look $CELH.. a lot to like.. profitable.. growing nicely.. good sector. great management. undervalued. the biggest issue is that its small with a $250M marketcap and low volume

@AndyHan45584438 @AndyHan42638619 @JonahLupton the $105 is also what i am thinking also.. so there is def room for it to run from here..

@NotoriousGrow @AndyHan42638619 @JonahLupton Been following since the sell down on ASX by funds that couldn't hold NAS shares. Bought in at $11, only a few thousand shares so I'm small, and my fair value target is $105 based on all the fundamentals and progress if the company

@AndyHan45584438 @JonahLupton have you look into $SEZL? what do you think?