Sustainable Growth

I’ve been lucky enough to have 7 10 baggers, or 7 stocks up 10x. These are ProMedicus, Wisetech, Mercadolibre, Nvidia, Celsius, Mastercard and TradeDesk. Just 1 can change your life. Here’s what I learned from each. $PME $WTC $MELI $NVDA $CELH $MA $TTD 🧵

@shiyam_kashfiq Faster time to proposal, better lead prioritization (and close rates) higher productivity rates, improved lead conversion.

@fintegrate A tough shift, but practical automation helps teams focus on real value. What early wins are you seeing?

The agentic Ai we are now delivering can do sales and marketing tasks better than existing humans (in the words of customers). Ops is next. Customer feedback is to now start integrating basic CRM lite & marketing automation functionality. Interesting times the next few yrs…

@GabGrowth When building your base this makes a lot of sense. Once you’re there, makes sense to pull back. Lot of stories of very good managers who come undone by that 1 or 2 concentrated bet. Greater chance of this as time passes.

One mistake i’ve continuously made is not swinging harder when the opportunity arrives. Over the past few years alone, I’ve had several multi-baggers from $HOOD, $HIMS, $COIN, $SE, $SOL and others. (5x-19x returns) They have typically ranged from 6%-20% positions. While they have returned well, few have been needle movers. For instance, $HOOD was a 6% position, returning 19x at the top, with a blended return of 11x as I trimmed on the way up. 11x is an incredible return, but it ultimately resulted in only a +66% contribution to portfolio gains which I believe is disappointing. As such, I have been thinking hard over the past few months on portfolio allocation and sizing of positions. Currently, I have 13 positions with the largest being ~16%. While that is sizeable, I do wonder if swinging even harder at the best opportunities I can find is the optimal solution here. Of course, there is survivor bias involved where I have been pretty successful in my picks. However, in cases where I find extremely asymmetric reward/risk, I do wonder if I should be more aggressive. Ultimately, just some late night thoughts that I continue to ponder on. Would appreciate if anyone has a different view on this to share.

@roover_sti55057 I wish it wasn’t so….

@fintegrate Everyone poor and unemployed

$NOW CIOs get it.

Happy to buy back into something if the story changes. But I want the company to force me to do that. That generally comes through sheer weight of earnings or rerating, not a biz getting cheaper than when I sold. $CELH $DLO $ADYEY still lower than when I sold, still on sidelines.

@FrenchV33921 I had owned this at one time. Didn’t have high enough conviction on the long term so I exited. Not bad at this price I feel.

@fintegrate Amazing, congrats! Any thoughts on $TMDX at the current price?

One single stock, if picked well can be transformational to everything else that you do. At its high this week, $NVDA was a 20 bagger on some of my earliest adds in ‘22. The profit alone on this one comfortably exceeds my #2 position. Grateful to Jensen.

Market just wants clean narratives at the moment. Thats just a reality. $DLO will keep getting pounded unless take rate bottoms out. With TPV growth > Rev growth no sign of that yet, and no reason for DLO bears to give this one up. Doesn’t mean this isn’t a good biz.

@it_is_Randy That seemed impossible to think about previously. I think that’s a realistic shot within 1-2 yrs.

@fintegrate The dips have been great, in the long haul for 300-320 range. Assuming their e/r continues to beat.

$NVDA slow…. then all at once. Markets never fail to surprise me. Patience is a hugely underrated attribute of successful investing.

I set up college accounts for each of my kids starting in 2020. Very basic structure with just $qqq and some $tqqq . It has done amazingly well over this time. I didn’t follow the same advice for myself. I think about that often 😂😂

$crwd near ATHs again. Now just behind $ASML Did nothing with this one even though market thought Claude security expert which would be deployed by CIOs! Silly market!

@BhasinAadi At some point too, you have to say no point fighting the market and let market take its win and not constantly buying the fall that keeps falling. I’m good with what I have. More buys lower won’t make any difference. Reality will be clear in 2-3 yrs with this one.

@BhasinAadi I’ve reached my posn limit size now given its relatively small market cap. If you see another LGFF attempt something similar that would be a bigger problem, because that would mean they’ve bridged a 10+ yr headstart that WTC already has. That would be such low prob, but big deal

$WTC just lost its largest customer - although it will take them 3+ years to transition off completely (maybe more) Estimates are $50-$100m of revenues Definitely concerning and will be an overhang for a while 👀👇

@au_shareplicity @j_enz Not so far! 🤞 I only do this for the businesses I have the highest conviction with.

@fintegrate @j_enz Have you had any where scaling down turned out badly?

I know $MELI is hated right now, but I think that’s a mistake. Picked up some additional MELI at $1499. $1390’s my next targeted buy. Positions will increase in sizes correspondingly increase more meaningfully from here.

@Investing4f I find if I go too soon, I can’t be there at the end. Some of these high growth names routinely fall 50-70%. If you start buying too quick you miss the Best Buy’s. More than 80% declines are very rare and if they do happen you probably have missed something in the thesis.

@fintegrate I like that you wait for a bigger decline. I’m doing the same rn

@j_enz My existing names, I wait for a 30% decline from highs and then I scale up every 10% decline adding progressively more. I generally cap out at 70% declines in a stock.

@fintegrate How do you decide how to scale in capital? Unfortunately I'm very inefficient in doing this correctly

$SHOP finally out of my top 10 for the first time in 2 yrs. Has now fallen behind $CRWD. Its spot claimed by $ASML for the first time. Sign of the times I guess. Out with old leaders in with the new.