Put in $2000, then purchased:
$500 for BN
$300 for HHH
$305.81 for OWL
$300 for PSUS
$300 for TSLA
$300 for TSM
Big tech companies in general are not expensive, so I continued to like Bill Ackman's stock positioning for PSUS and HHH (HHH is cheap on its own due to the discount for the NAV of its real estate). Alternative asset managers are cheap as usual :(
Tesla just launched the cybercabs in Austin, but then the National Highway Traffic Safety Administration (NHTSA) opened a formal investigation into the Tesla Cybercab around Tesla's decision to bypass the standard regulatory route for it being built without traditional manual backups, and lacking steering wheel, gas pedal, brake pedal, or mirrors. The Audit Focus: The NHTSA's probe is an official audit to examine the technical data and process Tesla used to justify its self-certification. Regulators are questioning how Tesla determined that federal rules requiring human-centric design do not apply to this vehicle. While the design floated around before the launch date, the violation was only triggered when the launch happens. I believe Tesla launched Cybercab knowing this risk very well. The fact that they didn't resolve that certification issue beforehand is a bit puzzling for me. (news, Cybercab Joins Tesla's Robotaxi Fleet With Cheaper Fares)
Anyway, Cybercab is inevitable. The timing of the scaling is uncertain, but the technology seems to be mature enough for a good portion of the public roads in the United States. The current market cap already mostly reflected Tesla's robotaxi service to be successful, but I believe the expansion of the total adjustable market ride hailing will surprise the market given the low price point. I still believe Tesla can be a buy when it has less than $3 trillion market cap.
My portfolio is trailing a hypothetical SPY-only portfolio by about 38 basis points. It should easily flip when APO and OWL recover.
Transactions
Recent and upcoming dividend distributions
Portfolio performance snapshot
Total return:
One-year return:
Portfolio IRR (calculation): 18.56%
Approximated IRR for a hypothetical SPY-only portfolio: 18.94%
Individual holdings:
Breakdown by categories (real-time):
Total returns for individual holdings:
Last prices:
Portfolio holdings conviction
The convictions in the table below reflects my current opinions and will guide the future contribution of additional investment to existing holdings. Stocks not inside the table are stocks with subpar return on equity that will be very unlikely to receive more contributions from new money (there can be exceptions for very cheap stocks). All of my writeups can be found here.
Conviction in long-term prospects means how much I believe a company would match or outperform the market (e.g. S&P 500) in the long run. Valuation matters so the conviction generally corresponds to the neutral rating of Valuation. It has the following ratings: weak, moderate, strong
Valuation: greatly overvalued, overvalued, slightly overvalued, neutral, slightly undervalued, undervalued, greatly undervalued
No comments:
Post a Comment