Sorry to bother you again. I usually don’t post back-to-back, don’t worry. But when there is a lot of price action, I know many of you want a brief update, so here is a quick one.
And what can I say… Welcome to investing in small caps! A month or two ago, almost all positions were massively in the green, and a YTD performance would’ve looked great. I didn’t post one then since I know things can change quickly. Today, it looks great; tomorrow, it is awful. I invest long-term, so I’m not bothered by pricing action from month to month, let alone week to week. What matters is how the businesses do fundamentally.
Flow reported earnings this morning, and the market reacted by selling off 20% of Flow’s market value.
Here’s why and what I think about it: