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Magdalena Pacholska profile picture
Dear Friends, there will be no follow-up to his article, no Volume II. Transactions made in period March and later lost somehow their relevance, and as for my musings on evolution on my behavior as citizen and investor, I can only sum it up in a few lines. As a citizen, I need to be responsible, always, and everywhere. And as for investing: I have overtraded. I made money, ok, but I gave too much away in commissions. I don`t want to be paying for the third mortgage of my stoke broker! The challenge ahead of me is to buy stocks rarely but surely, not to sell (while rolling stop losses on winners), and just do other more joyful things in life.
James Catlin profile picture
Thanks for sharing. I enjoyed the write up.
Niksurfs profile picture

I see you have very much immersed yourself in the technical aspects for trading and congratulations on growing so well in that area. What I might suggest and I don't hear you talking about in your diary, is an in depth understanding on the companies/business's you are investing in. The fundamentals of their business, the markets they address, the customers and moat they have. Maybe I missed that somewhere.... if I did, pardon me.

I would submit for your consideration that a very deep dive into each business itself should be ahead of the technical research on buying and exiting a position. Sounds like you got a taste of that fundamental research component with your VEEV purchase.

Just an observation on my part and please take this as advice and not a criticism. Understanding the business in detail, their vertical, their market position, competitive edge, their competition and TAM/SAM is critical. Also who is involved in management and on the BOD are very important primers before researching the technical timing.

Best of luck with your VEEV holding, it was a wise choice and truly a keeper. It is one of my core positions and I have been in VEEV for quite a while.

I wish you all success in your investing endeavors.
Magdalena Pacholska profile picture
Thanks, Nik. I indeed did not dedicate too much space to the presentation of companies' markets and fundamentals, but believe me, if I say that for a predominant majority of them I have read at least one annual report and listened/read at least 2 (but sometimes up to 4) earnings calls and peruse lines of their fin statements for trends in revenues, net income, CF, FCF, debt, various coverage ratios, etc. I don't want the time (nearly 1000 hours) I spent on preparation for my CFA level I & II exams to go for nothing :), Plus a minimum of 2 hrs a day of financial podcasts and reading fellow SA contributors. My technical focus here is more about WHEN, not WHAT to buy, to make money. Not always 100% correct, but that's life. As for the market shares, I look at that too but it's not a religion to me. I rather look at what societal challenges they tackle, what demographic needs they respond to. I have been working for the last 10 years in research funding consulting, 6 years before that in border security, so R&D spending, innovation, and international politics are very important to me. Anyway, thanks so much for your positive vibe.
Good article and good reply to Nik. I think I will push the follow button.
Niksurfs profile picture
Thank you for your reply. You certainly have a lot going on and have put in an extraordinary amount of time in both your thought and research. I wish you all the best with your selections.

Congratulations on reading Con Call's and notes, that is so important, also I review the Q&A from analysts on the call, sometimes this reveals a lot as well in tone and content with regard to replies to questions.

All the best...
Gino Verza profile picture
Thank you for sharing. I am impressed with the probity of your work. Three unrelated comments:

1) Re: "........and I just started studies of volume theories: volume profile ("Mind over market"), VWAP, etc. All that I read could be summarized in two principles: look for proof of big institutional buying and buy at historical discounts."
- ROIC and Growth (rate) determine FCF, which in turn determines Fundamental Value.

2) Re; "......my eagerness to put in practice some new trading strategies I worked out. I enriched my thinking with ideas coming from books on ETFs, CEFs, a pile of books by Minervini, Wyckoff, Fosback, the life story of Jesse Livermore (from the side of psychology of traders)".
- Warren Buffett: (a) Be mindful of your Circle of Competence, (b) Maintaining a concentrated portfolio is okay.
- Einstein: Compound interest is the most powerful force in the universe.Let long term compounding energize your returns

3) XPEL is a core, large holding, in my portfolio.

Thanks for sharing again..
Magdalena Pacholska profile picture
Thank you, Gino. My motto is to be always learning. I just wish I had started studying finance at least a decade earlier...
I don't think they're known for specifically wrapping Tesla's I think they're just known for wrapping cars in general
Magdalena Pacholska profile picture
Thanks. That's the make I found most references to.
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