The viciousness of the recent sell-off has been undeniably painful, especially in growth stocks that had been performing well. Our positions have not been immune and in fact, have suffered some of the worst damage. With that in mind, it seems that some of the best 'Black Friday' deals are not to be had on Amazon or Walmart, but in the stock market. As experienced investors, we all like to buy stocks 'on sale.' But it's usually easier said than done. I felt it was a good time to write a synopsis on some of the top positions in the portfolio and remind clients why I own these names and why this is an opportunity. This note is not meant to be a deep research dive on each investment, just a few highlights on why it’s still worth holding shares in these companies.
In my opinion, the best way to deliver market-beating returns is to have as many outsized winners as possible. Unfortunately finding those 'unicorns' is very difficult, only exceeded by the difficulty of actually holding on to potential '10 baggers' through the peaks and troughs. Now, I have no idea which, if any, of our holdings, will deliver returns significantly above the market. However, I do believe the assets we own are some of the best in the world and present a chance to provide real alpha over the next few years.
Regards,
Andre