Smallcap growth
Luke and Albert share a large-cap and small-cap model portfolio. If we were starting out from scratch today, this is where we’d start.
Advice for a new investor
Luke and Albert discuss some of the considerations for a new investor, and provide a couple of starting points for research.
Podcast #71 – Model portfolio year-end review
The time has come for the year-end review of our model portfolio, a collection of 15 stocks that we selected in January as our core investments for 2021. The chart above illustrates the torrid time the last quarter has been for growth stocks and our model portfolio. As growth investors, you get somewhat accustomed to volatility but this year has been especially turbulent as investor sentiment swung back and forth due to a series of world events. This was the year to be an index investor as the S&P steadily climbed and ended the year up almost 30%.
Podcast #68 – Structuring the 2022 model portfolio
This week we give consideration to the structure of our model portfolio for next year. These are the companies we believe will achieve market-beating returns in 2022 and beyond. In this portfolio structure episode, we consider the megatrends that are likely to shape the world around us for the years ahead and decide what proportion of the portfolio to devote to each of them.
Podcast #59 – Model portfolio Q3 review
It’s time for the Q3 review of our model portfolio, a collection of 15 stocks that we selected in January as our core investments for 2021.
Following a nice recovery in Q2, the model portfolio was steadily making gains during the third quarter, but on the 22nd Sep the market started trending downwards and growth stocks were hit harder than the general market, and the model portfolio lost 15.1% in value by the end of the quarter while the S&P lost only 6.1%.
Only eight out of the 15 stocks are showing positive returns from the inception of the portfolio in Jan, with just six of those beating the S&P. However in most cases, this underperformance is not a result of the company failing to execute, and was driven by macro-economic factors impacting the value of future cash flows, which growth stocks are far more dependent on than more mature companies.
In today’s episode, we dig into some of the key stories and updates for each stock in the portfolio.
DocuSign one-pager
In episode #45 of the podcast, we did a deep dive into another one of our model portfolio stocks for 2021, DocuSign. We both have positions in DocuSign in our personal portfolios. Here is a one-pager summarising the key points from our deep dive.
Podcast #46 – Model portfolio Q2 review
It’s time for the half-year review of our model portfolio, a collection of 15 stocks that we selected in January as our core investments for 2021. The sell-off in growth stocks earlier this year made for grim reading at the end of Q1, but many of these stocks have rebounded – ten of the stocks in the model portfolio are now up from our start date, with nine of them beating the market (S&P 500).
Unfortunately, a couple of big losers are dragging down the overall return. While it’s probably too early to declare that “growth is back!”, our portfolio performance at the end of Q2 is much closer to the benchmark of the S&P 500 index. In this episode, we dig into some of the key stories and updates from the portfolio.
Podcast #45 – DocuSign deep dive
The world is moving to the “anywhere economy” where workers have the option to do anything from anywhere, and a key capability enabling this megatrend is the use of digital agreements and e-signatures. This week, we deep dive into DocuSign. Already the global leader in e-signatures, DocuSign are expanding their capabilities to support the entire life cycle of a digital agreement with their ‘Agreement Cloud’ suite of services.
Podcast #43 – Dear diary
Just over a year ago, when the coronavirus pandemic was beginning, we both started investing journals, to capture our thoughts about life, and the investment opportunities presented by the rapidly changing environment.
In this week’s pod, we revisit some of our journal entries from that period of wild volatility and uncertainty. We saw early signs of the types of businesses that would benefit from stay-at-home orders, and we make some predictions and some investments based on our forecasts of how the business landscape would be impacted. It’s now one year later, so how did we do?
Podcast #33 – Model portfolio Q1 review
In this week’s episode, Luke & Albert check in with their model portfolio and see how the stock picks have performed in the first quarter, but more importantly, how the businesses have fared and whether or not the investment theses have changed.