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I Bought Slack!

I was going to write another depressing post about the legacy of the 2008 financial crisis, but then I remembered that nobody likes depressing news on Monday. This is America and having no memory of the past is our biggest virtue. Why do you think Larry Kudlow still has a job? He’s America’s number one cheerleader and that’s all you need to know about whose running this Casino.

What matters is the market trading near all-time highs and that’s why I initiated a position in Slack (WORK). And because I still cherish the power of technology as an agent of change. And Slack’s 82% revenue growth in FY 2019 is no joke. Clearly this is a company with huge upside potential (read THIS!), and the reason I know this is because my wife uses the app at work and at home to communicate with co-workers. She’s a software engineer and she’s on it all the time. Slack is an addicting productivity tool. Nerds love it and the suits upstairs want it installed on every laptop and smart phone. And unlike so many of the IPOs we’ve seen this year, Slack is actually a great business that trades way below its intrinsic value.

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