Telescope Investing

My Portfolio / Every company I’ve owned /

$CRM · Salesforce

My position from Sept 2024 to Apr 2026 · 1 buy and 1 sell · sold out · SaaS

$200$30020252026BuySellMy average costAfter I sold
What the pick did
0.6×
The stock in pounds, while I held it; 0.7× in dollars
S&P 500, same time1.3×
What my money did
0.6×
Pounds back (sold, still held and dividends) for every pound in, after costs
Sold · all of the money in0.6×
Dividends · on the money in+1%
S&P 500, same buys and sells1.3×

Every decision

  • 24 April 2026Sold

    Classic mid-complexity workflow SaaS. Agentforce is a defensive pivot, not a moat. Sales Cloud / Service Cloud are exactly what AI-natives target. Heavy seat-based pricing = direct conflict with agentic labour displacement. Benioff's pricing model is structurally broken by agents

  • 25 September 2024Bought

    No note

In percentages and multiples, as one portfolio. Past performance is not a guide to future returns. Nothing here is financial advice, and I may buy or sell at any time.