Revisiting $NOW After the Recent Rally in Software Stocks
Software has rallied aggressively this summer, with the iShares Expanded Tech-Software ETF (IGV) up roughly 18% from its July 23 low, sharply outperforming both the S&P 500 (+4.2%) and the Nasdaq 100 (+3.5%) over this
UPDATED PORTFOLIO POSITIONING AND MARKET OUTLOOK
Hi everyone. Given the changes I have made to my portfolio and wider investment process this summer, I thought it would be timely to provide a portfolio update.
To provide some context on my investing journey, I began publishing
Yesterday I initiated a long position in Brookfield $BN at $41 per share, representing a ~20% portfolio weight.
The upside is massive and downside risk appears limited. My base case PT is $172 by 2030, a 39% pre-tax annual compounded rate of return over the next 4.4 years. For
$DLO One-Year Outlook and 12-Month PT
As discussed, I added to my dLocal position last week at $13.99 per share after management commentary on the company’s Q2 2026 earnings call indicated that dLocal is approaching an inflection point where continued TPV growth, an asymptotic
RECENT MOVES AND PORTFOLIO CONSTRUCTION
Today I bought 1,750 shares of $DLO at $13.99. This position currently represents a ~40% weight in my portfolio at an avg cost of $13.17.
I was hesitant to go so big into a single stock, but the way management spoke about the upcoming
$DLO - Q2 2026 Earnings Overview
Below are my major takeaways from dLocal's Q2 2026 results. This analysis is organized into: (i) a brief overview of dLocal's headline results; and (ii) commentary focusing on:
• Accelerating TPV Growth;
• Take Rate Stabilization;
• Stellar
$WRD - Q2 2026 Earnings Overview
Overview
WeRide reported its Q2 2026 results on August 12. The fundamental picture has meaningfully improved since Q1 2026, with revenue rising 103% QoQ and management providing investors with much needed guidance regarding WeRide’s path to
