09/03/2024
For Portfolio II, III, IV
Close the positions
Temporarily close the holding of Semler Scientific
Semler had and still has a good model of business, but the investment in bitcoin put company in a speculative mode.
Gold and diamond have their commercial value and usage. Gold is the best electric and heat conductive material. Also, it has the best malleable and anti-corrosion property. Same as diamond, it has commercial usage as cutting tool, scientific use.
We can not find real commercial utility for bitcoin. The only way to think about bitcoin is that it can be rare-material-like but no commercial use, and it is for trading purpose only. If it is the case, the "desire" for possesion is becoming the most important factor for bitcoin, like rare coins, stamps, arts.
In past couple months, the total number of bitcoin held in public traded bitcoin ETF has been gradually declined. What does it tell us? Do investors find it no value? Do investors think that it is less attractive than other investment tool? Or investors need money for vacations? We are not speculating such thing, but we believe in numbers.
Again, concentration investing involves higher risk of significant loss without the protection of diversity.
Each individual investor should always consider their own investment goal, risk tolerance, investing span and objectives for their investment positions. Investing in securities involved the risk of total losses. Investors should always consult with financial professionals.
07/02/2024
For Portfolio II, III, IV
Reduce the positions
Semler Scientific Inc (SMLR),
O'Reilly Automotive Inc(ORLY),
Enphase Energy Inc (ENPH)
Reduce 50% of the holding of Semler Scientific,
Reduce 40% of the holding of O'Reilly Automotive Inc
Reduce 40% of the holding of Enphase Energy Inc
Due to the volatile nature of bitcoin price and uncertain how bitcoin be an investment tool, we further reduce 50% of the holding of Semler Scientific.
For adjustment the weight of components in Portfolios, reduce 40% of the holding for both O'Reilly Automotive and Enphase.
Again, concentration investing involves higher risk of significant loss without the protection of diversity.
Each individual investor should always consider their own investment goal, risk tolerance, investing span and objectives for their investment positions. Investing in securities involved the risk of total losses. Investors should always consult with financial professionals.
06/18/2024
For Portfolio II, III, IV
Reduce the positions
Semler Scientific (SMLR).
Reduce 40% the holding of Semler Scientific.
Due to the volatile nature of bitcoin price, we reduce 40% of the holding of Semler Scientific.
Again, concentration investing involves higher risk of significant loss without the protection of diversity.
Each individual investor should always consider their own investment goal, risk tolerance, investing span and objectives for their investment positions. Investing in securities involved the risk of total losses. Investors should always consult with financial professionals.
05/08/2024
For Portfolio III, IV
Hold the positions
Semler Scientific (SMLR).
Hold the current position.
Revenue decline is expected as stated in previous report. This revenue decline is due to the reimbursement adjustment from Centers for Medicare & Medicaid Services (CMS). Also, the situation of revenue recalibration will remain in whole 2024. We expect growth shall resume in 2025. It is like a company has a business down year and next year business will return to normal trend.
Furthermore, SMLR participates the decline and efficiently reduces cost, and it generate more profit and cash flow. Company currently has $62 million in hand with $77 million of equity and 7.03 million outstanding share. It means company has most of its assets in cash and almost $10 dollar cash for every share of common stock. A company which is able to accumulate cash and efficiently cut cost is the best company we can hope for in this down turn situation because shareholder's value is in their mind, and it is better than a cash burning company.
If the share price drops close to $10, just like Peter Lynch said, we are going to mortgage the house and put in Semler Scientific. However, anyone who feels this steep price is intolerable should reduce or close the position in order to match personal investment strategy. Again, the following red-marked sentence is not insignificant, please read careful and be mindful.
Again, concentration investing involves higher risk of significant loss without the protection of diversity.
Each individual investor should always consider their own investment goal, risk tolerance, investing span and objectives for their investment positions. Investing in securities involved the risk of total losses. Investors should always consult with financial professionals.
08/14/2023
For Portfolio III
Increase investing position
Semler Scientific, Inc (SMLR)
Increase the position of Semler Scientific, Inc to 10% of Portfolio III.
In the past decade, Semler Scientific's revenue and profit has few down years, but it is able to come back with even stronger numbers. However, the CMS's (Centers for Medicare & Medicaid Service) decision to not include some Semler's services will effect its business, and its effect can not be accurately assessed yet. Nonetheless, its future is positive and challenged.
Again, concentration investing involves higher risk of significant loss without the protection of diversity.
Each individual investor should always consider their own investment goal, risk tolerance, investing span and objectives for their investment positions. Investing in securities involved the risk of total losses. Investors should always consult with financial professionals.
12/16/2022
For Portfolio III
Increase holding
Semler Scientific (SMLR)
Increase the position of SMLR to 6% of the Portfolio III.
Again, concentration investing involves higher risk of significant loss without the protection of diversity.
Each individual investor should always consider their own investment goal, risk tolerance, investing span and objectives for their investment positions. Investing in securities involved the risk of total losses. Investors should always consult with financial professionals.
11/02/2022
For Portfolio III
Reduce risk
Semler Scientific (SMLR)
Reduce 50% of current holding of Semler Scientific (SMLR)
It is a result that did not match expectation. Reduce 50% of holding to protect the probability of further decline. However, additional investment will be warranted if price become more appealing.
Each individual investor should always consider their own investment goal, risk tolerance, investing span and objectives for their investment positions. Investing in securities involved the risk of total losses. Investors should always consult with financial professionals.
09/21/2022
For Portfolio III
Increase position
Semler Scientific Inc (SMLR)
Add 2% of the portfolio to the current holdings of SMLR
Each individual investor should always consider their own investment goal, risk tolerance, investing span and objectives for their investment positions. Investing in securities involved the risk of total losses. Consulting with financial professionals is always recommended.
08/02/2022
For Portfolio III
Initiation of A New Position
Semler Scientific Inc (SMLR)
Initiate a position of 2% of the portfolio III for Semler Scientific Inc (SMLR)
Semler Scientific is a small company with only one significant product, QuantaFlo, which is for detecting PAD (Peripheral Artery Disease). Comparing to QuantaFlo for diagnosis of PAD, the traditional Doppler tests are less convenient and more expensive. Another advantage Semler has is that QuantaFlo is the only competitive product against Doppler test in market for now.
However, SMLR is much fairly valued at this price. Also, due to its small size of business and revenue, investing in SMLR involves higher risk.
Each individual investor should always consider their own investment goal, risk tolerance, investing span and objectives for their investment positions. Investing in securities involved the risk of total losses. Consulting with financial professionals is always recommended.