#61 - Portfolio Update, June 2022

Performance update

Commentary

There’s no need to sugar coat it and no need to dwell on it. Mistakes were made.

I flip-flopped, I tried to tie to the market, and I got punished for it.

It’s one thing to hear Buffett talk about it, it’s another to do it and experience it ourselves.

Enough said. At this point either the lessons have been learned (and I hope that is the case) or they’ll never be.

Onward. But please for fucks sake…calm and steady.

Nothing matter except the work we put in. Work => Profit.

Moves

Drastically reduced $BABA and $PROSY (yes, just days before the run-up. Fuck me.)

Initiated small position in $EVO and $CPRT. Hope to make them bigger.

New medium position in $CXI.TO, which got hammered. It’s a good company, but my entry point was awful.

Outlook

I’m sitting on 18% cash.

I should read the stuff I write a bit more. It would help, as I notice I’m not sticking to the plan.

I like $EVO and $CPRT. I’d love to find lesser-known compounders as well.

I haven’t touched $EMO.V. It’s in the shitter, but nothing about the thesis is worse than it was 6 months ago. What ya gonna do. Same goes for $MKO.V.

I’m on the fence about $AEP.V. I don’t like the recent moves from the CEO, but the price is getting very attractive. Haven’t decided yet.