Tech stocks are up today. That doesn’t mean they’re in fashion again. It simply means they’re up. And that gives us a good opportunity to sell our duds.
What’s a dud? How about a tech company with fast sales growth, but no earnings and no reduction in losses?
In the old days (i.e. last year), investors loved fast sales growth and, to hell with losses.
These days, losses count. Take DocuSign, a truly magical company, which makes wizardy, science and pleasure out of signing ultra-boring documents. I’ve DocuSigned everything from investing to selling a home. My daughter loves them. She pays them $15 a month. Says it’s worth every penny. She and thousands of others are growing the company fast.
But, look at this chart. DocuSign sales go up. Losses go up. That’s not the way it’s meant to be — in today’s world.
Further, the stock is way overpriced and falling. Here’s the last year:
Here’s year to date. Looks gruesome:
I sold my DocuSign today. I emphasize DocuSign is not a pandemic stock — like Zoom. DCU is a stock with a huge, long-term future. But the Pandemic ran it up too much.
I should follow my new inviolate rule: When a stock goes parabolic — like DOCU did last September, I should sell them. Parabolic is not normal. It’s a function of momentary insanity. Good time to sell.
Don’t get wedded to them.
Tennis outdoors today
We played our first game of the season outside today.
When I was in New York City recently, I complained about the noise — especially the garbage trucks at midnight. Come to Spencertown, Columbia County, NY. You want noise. You’ll near noise. Trucks of every caliber rushing up and down in a frenzy I’ve never seen. Early morning. 7 to 9.
This economy up here is booming. I meet contractors. All complain of one thing: There are no people. Each one — without exception — says “I have enough work to double my business — if only I could find the people.” They all want twice as many people on their payroll. The entrepreneurial local restaurateurs want to open new restaurants but can’t find the chefs. Even if they could, they can’t any place for them to live. No houses. No rentals. No nothing.
Drive around the community, you see people adding rooms on top, on the side, at the back. A new wing for the home. A new home office with high speed Internet, screens and Logitech gadgetry.
I blame the trucks for my poor showing on the court this morning. I wouldn’t wish it any other way. I like the sound of an exploding economy.
I’m impressed by:
+ USPS tracking of its packages — even if they are a little slow in the actual delivery.
+ Miro.com, which describes itself as “The online collaborative whiteboard platform to bring teams together, anytime, anywhere.” It’s not public. Shucks. But it’s very very very impressive.
+ The X1 Carbon Ninth generation laptop from Lenovo. It really is the best laptop they’ve ever made and the best portable business laptop on the market today.
If you’re looking for an apartment in Albany NY,
Go to the website for the Landmark.
Click here. Best apartments within a hundred miles. I toured them on Tuesday. I’d happily live there if I was going to school at SUNY or working in the exciting, awesome high-tech companies in the Albany, NY area.
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Advertised on CNBC today:
New Windows computer settings
I dumped my DIS. I’m sure they’ll come back eventually but, for now, there’s too much competition in streaming and the theme parks are a bit slow… Moreover, they’ve had too much of a run.
Nice not to have to wear the mask (since I’m fully jabbed). But I’m still wearing mine in crowded places — indoors and outdoors. Count me obsessively cautious.
See you Monday. Harry Newton.
