I generally don’t have much interest in Initial Public Offerings (IPOs). They are often overpriced, overhyped, and not meant for long-term investors. In last couple of years, IPOs have seen a resurgence along with Direct Listings and SPACs. These IPOs, DLs, and SPACs are … [Read more...] about Dipping my toe into this SPAC craze
Complete List of Blog Posts
Tesla, BYD, and Charlie Munger
As I wrote last month, in 2020 Tesla jumped from #8 to #2 position in my portfolio. This week as I set about writing a blog post dedicated to my Tesla holding, I came across Charlie Munger’s Q&A from the Daily Journal’s annual shareholder meeting. Mr. Munger does not own any … [Read more...] about Tesla, BYD, and Charlie Munger
How my stocks did in 2020?
After taking a short hiatus in January, I am back. Happy belated new year, everyone! So this month I start off with end-of-year update of my stock holdings. In my mid-year update post (Breaking out to a new high) in July last year, I pointed out that my portfolio had reached … [Read more...] about How my stocks did in 2020?
Leadership changes in founder led businesses
It’s no surprise to anyone who go through my posts that I admire founder led businesses. I also love investing in them. But perhaps not all of them. Only those that have proven to have durable business models and where founders have large stakes in their own businesses. I have … [Read more...] about Leadership changes in founder led businesses
Costco and its special dividends
Costco just announced a special dividend of $10 per share, payable in December. This is their fourth special dividend payment to the shareholders in last eight years. It’s called special dividend because it is in addition to the regular dividend that Costco pays every quarter. … [Read more...] about Costco and its special dividends
Dividends, six months later
It has been more than six months since the pandemic started affecting the global economy. Many dividend paying businesses were impacted too. In response, some stopped or cut dividends. But not many businesses that I own have gone that route. I wrote a blog post in May this year … [Read more...] about Dividends, six months later
A bear market in rear view
About a year ago, I wrote a blog post wishing that all long-term investors get at least one bear market in their investing journeys. In that post, I made the case that a bear market is a blessing in disguise, rather than a curse, for all patient investors. Here we are one year … [Read more...] about A bear market in rear view
More founder run businesses
Bessemer Venture Partners is a well-known venture capital firm—also one of the nation’s oldest in VC business. As the name implies, it invests in young startups, mostly technology related businesses. Over the years, it had invested in some promising businesses that grew to be … [Read more...] about More founder run businesses
The odds of making money in stocks
Whether we like it or not, we investors are always making bets. We invest our capital with the expectation that down the road we will be able to recover all of it plus some. But since the future is unknowable, we implicitly make a bet every time we invest. Specifically, … [Read more...] about The odds of making money in stocks
Three years of dry powder deployments
Last month, the S&P 500 Price index reached its previous high, making up for all the losses incurred in this bear market. That was my automatic trigger to sell some stocks and recoup dry powder cash. It turned out to be an unusually quick turn-around for a decline as steep as … [Read more...] about Three years of dry powder deployments