Mariano Daniel Pardo
Mariano Daniel Pardo
Malta
4mo
Hi everyone. February has been a tough month, and I know it's frustrating to watch the portfolio slide. As usual, the main reason for this downturn is just uncertainty. Trade headlines are back in focus after a U.S. Supreme Court ruling on tariffs and the new temporary tariff announcement. On top of that, markets have been reacting to several AI disruption narratives. I've been investing on eToro for +12 years. I've seen similar and even worse situations many times. This time around, one of the most affected sectors is software and technology in general, which is the core of my portfolio. However, very similar to my post in April 2025, I'm not worried. The financials and growth of the companies I hold are still healthy, and not showing any signs of slowing down, and many are even growing faster. A good example is Cloudflare, which, despite reporting excellent earnings just 2 weeks ago, the stock price crashed. One of the main reasons was the announcement of Claude Code Security. However, the categories of these tools are fundamentally different, and Claude Code Security isn't a direct competitor to any Cloudflare service. Claude Code Security is for code-level security analysis. While Cloudflare protects running apps and infrastructure at the internet edge (DDoS mitigation, WAF, bot management, API security, Zero Trust, CDN, etc.) I believe the crash in Cloudflare's stock price, like many other companies in my portfolio, is almost entirely narrative-driven basket selling. Not only is Cloudflare not going to lose any market to Claude Code Security, but they are also benefiting hugely from AI. Volatility is part of long-term investing. As always, my analysis is based on fundamentals, and not on short-term narratives. I will keep monitoring demand, margins, guidance, and balance sheets across the portfolio, and I will adjust it when the underlying data changes or I find new opportunities. Mariano. ๐˜‹๐˜ช๐˜ด๐˜ค๐˜ญ๐˜ข๐˜ช๐˜ฎ๐˜ฆ๐˜ณ: ๐˜›๐˜ฉ๐˜ช๐˜ด ๐˜ข๐˜ณ๐˜ต๐˜ช๐˜ค๐˜ญ๐˜ฆ ๐˜ช๐˜ด ๐˜ฑ๐˜ณ๐˜ฐ๐˜ท๐˜ช๐˜ฅ๐˜ฆ๐˜ฅ ๐˜ง๐˜ฐ๐˜ณ ๐˜ช๐˜ฏ๐˜ง๐˜ฐ๐˜ณ๐˜ฎ๐˜ข๐˜ต๐˜ช๐˜ฐ๐˜ฏ๐˜ข๐˜ญ ๐˜ข๐˜ฏ๐˜ฅ ๐˜ฆ๐˜ฅ๐˜ถ๐˜ค๐˜ข๐˜ต๐˜ช๐˜ฐ๐˜ฏ๐˜ข๐˜ญ ๐˜ฑ๐˜ถ๐˜ณ๐˜ฑ๐˜ฐ๐˜ด๐˜ฆ๐˜ด ๐˜ฐ๐˜ฏ๐˜ญ๐˜บ ๐˜ข๐˜ฏ๐˜ฅ ๐˜ฅ๐˜ฐ๐˜ฆ๐˜ด ๐˜ฏ๐˜ฐ๐˜ต ๐˜ค๐˜ฐ๐˜ฏ๐˜ด๐˜ต๐˜ช๐˜ต๐˜ถ๐˜ต๐˜ฆ ๐˜ง๐˜ช๐˜ฏ๐˜ข๐˜ฏ๐˜ค๐˜ช๐˜ข๐˜ญ, ๐˜ช๐˜ฏ๐˜ท๐˜ฆ๐˜ด๐˜ต๐˜ฎ๐˜ฆ๐˜ฏ๐˜ต, ๐˜ฐ๐˜ณ ๐˜ฑ๐˜ณ๐˜ฐ๐˜ง๐˜ฆ๐˜ด๐˜ด๐˜ช๐˜ฐ๐˜ฏ๐˜ข๐˜ญ ๐˜ข๐˜ฅ๐˜ท๐˜ช๐˜ค๐˜ฆ. ๐˜ ๐˜ฐ๐˜ถ๐˜ณ ๐˜ค๐˜ข๐˜ฑ๐˜ช๐˜ต๐˜ข๐˜ญ ๐˜ช๐˜ด ๐˜ข๐˜ต ๐˜ณ๐˜ช๐˜ด๐˜ฌ.
Not investment advice. The author may have financial interests in the mentioned instruments.
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