August, for the most part, was a great month, aside from the heat that was brutal. We finally passed the last high the S&P reached back in January of 2,870, as for the Dow, we reached the 26,000 threshold that was reached in January, but has yet to surpass the 52 week/all-time high of 26,600... as for the NASDAQ... well...
It's a force you simply don't mess with, surpassing 8,100
Last month, August 2018
The line up, my 5 largest holdings, the creme de la creme: Cintas, Visa, American Express, Apple, Square. This month, it switches yet again.
Ah, Visa reached and became my largest holding in The Compounding Dollar portfolio.
In Visa news, it made an investment in payment processing company Paidy, a Japanese payment service for e-commerce and in-store.
Cintas celebrates their 35th year as a publicly traded company by ringing the bell at the NASDAQ
MAN what a BEAST of a company, God I love Square so much.
The Buckingham Research had a bullish report on Square that pushed the stock price by almost 3%.
Square's cash app card has been a huge success, over a year, card users have spent $3 billion in total. Square monetizes their app by placing a fee for every time a user wants to withdraw their money immediately or for every time they use their card. Meanwhile PayPal's venmo is just catching up to the game and have now just released their own debit card to utilize. Even still, Venmo still struggles to monetize their users. Square's cash app also recently took over Venmo in terms of the amount of downloads.
The CEO Jack Dorsey has sold around $7.6 million worth of Square shares, followed by another $8.6 million, which concerns me, since Jack could potentially be a billionaire if he holds onto his shares of BOTH Twitter and Square, but I'm not entirely sure why he can't have a long-term vision for his company.
Fun fact: Square's cash card takes 2 seconds to process a payment, faster than any other card out there in the market.
This bad boy has more than doubled my money.
American Express 11/20/17
American Express pushed their 52-week high. Pushing towards $107 territory, still underperforming the overall market, but we have (some) faith in the company.
Amex has introduced a new credit card with Marriott International, the card is said to include better rewards, gold elite status, a free night, and a rich welcome bonus. Folks who sign up for the card now can receive 100,000 points after the first $5,000 spent on the card. It offers 2X points for every purchase, 3X points on restaurants and flights booked, and 6X points on participating Marriott hotels.
The CEO of American Express is stepping down after 37 years of service, Ken Chenault was just one of the 4 African Americans running a fortune 500 company. His leadership was a necessity as Ken remained cool during the dot com bubble, 9/11, and the 2008 financial crisis. Buffett acknowledges that he is the epitome of a great CEO. Ken significantly impacted many employees of American Express.
Apple is having their new iphone reveal some time in September. As well as any other products.
Dividends have somewhat decreased since we’re allocating cash in investments that do not pay a dividend.
Portfolio YTD 21.86%
OOOOO BUT LOOK AT THAT TAKE OFF IN AUGUST. So much for “sell in May and go away”
Portfolio versus S&P
And of course, we abandoned the S&P