👋 Evening guys and time for an overdue update on proceedings.
📈 After outperforming $SPX500 by a good couple of percent we are now 0.25% behind the index with a ytd return of 10.97% (at time of writing) after another pullback in Crypto & Tech which has honestly been a common theme all year so doesn't really concern me or tempt me into tinkering with strategy.
📉 The major contributor to the fall has been $CELH (Celsius Holdings Inc.) which has fallen 20% + after a cheeky sell-side analyst report from Morgan Stanley based on a single WEEKS worth of sales data which stated that they believed that Celsius sales would grow by mid 30%'s rather than the high 30%'s year over year.
🤔 A warranted 20% pull-back based on those numbers? I don't really think so however the fall has pegged the paper gain on this stock back from a peak of $1400 to where it stands today at around $650. I added a little at $79 but I am conscious that the 50 day MA is $81.57 with 200 day all the way down at $65 (which is my average cost) so for technical reasons I'll hold fire adding anymore.
👍 I remain positive guys and incredibly happy with the composition of the portfolio especially with the small-cap's we hold like $ONON (On Holding AG) that have really driven returns. On that note I've added a new small-cap position to the portfolio through $BROS (Dutch Bros Inc.) - Dutch Bro's coffee chain.
☕ Think $SBUX (Starbucks Corporation) with 1/20th of the market cap. This is a company that recently achieved profitability that is very much in the growth category growing revenues at approximately 30% p.a.
💲 I've taken a small 2% weighting to Dutch Bros so far but I'm prepared to more than double that weighting should data look encouraging - we are still (not quite) in the optimal macro environment for small-caps to outperform.
👍 As always thanks to all copiers & followers for sticking around!
Cheers,
James... Show More
