Portfolio report: Feb 9, 2019
I've continued my investment thesis and fine tuned it into something I can apply during my investment choices as an investment thesis:
I will invest in well-run companies that I understand, with significant preference given to those that I also use, who are building platforms (not products) and have a high growth potential.
To that end, I've continued to slowly build out my portfolio. Having that thesis has also helped steer me away from some companies I'd otherwise invest in as well (like EA).
Hamilton Thorne Ltd is setting themselves up to be the primary supplier of fertility equipment and software. I see this as a long-term investment, and the platform their building makes a lot of sense in the space.
Atlassian has a aging platform for companies that they need to adapt and improve or risk being disrupted. Some of their recent choices (like killing HipChat and pushing more for cloud) make me think they can do it. There are some signs that their growth is slowing though (as they increase prices to try and make their revenue look stable). So I'll be keeping this position small and watching it closely.
I added Scotiabank as it looked like they were preparing to be more international and build a banking platform they could franchise in more countries. Sadly, they've recently started to sell of those pieces that I found more interesting. There's a good chance I'll sell off BNS once I find a better target.