Minor Changes to the Portfolio

Greetings, and, to my newest subscribers, welcome to ExponentialDave! I’m excited to have you here, and I look forward to helping you grow your wealth exponentially.

I have been somewhat active this week and wanted to provide a quick update on what I’ve done.

Firstly, some of you probably noticed the addition of Asana to my portfolio as an experimental “try out” position. After some due diligence, I have decided to sell out of Asana entirely, due to its quickly growing non-GAAP net losses. From 2019 to 2020, non GAAP net losses grew 81%, and based on what we are seeing in 2021, there’s not much of a sign that Asana has any interest in changing this any time soon.

Don’t get me wrong, I think Asana is a great company, but everything must be viewed relative to the other positions in my portfolio. The other positions in my portfolio are either already profitable or they are demonstrating a clear and obvious path towards profitability. Asana so far is demonstrating that its losses are going quite far in the wrong direction!

I enjoyed some lucky timing with Asana. In the short time period I owned it, it appreciated 47%. Not bad for a position I ultimately deemed unworthy of being in the starting lineup.

When I closed out the position, I immediately redeployed the money into the following positions:

a) Upstart $280 LEAPS call options expiring Jan 20, 2023. The allocation is 0.7%.
b) Docusign shares, bringing the position from 5.5% to 6.5%.
c) Affirm shares, bringing the position from 2.3% to 3.3%.

One thought on “Minor Changes to the Portfolio

  1. Thanks for the update! I too sold out of Asana, albeit with a smaller gain. Just think it had come too far too fast.

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