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Topic starter
01/04/2025 11:28 am
MGA Wealth Management LLC
Standing Meeting
March 31, 2025
Attendees:
- Alec Klungle
- Cody Kincaid
- Boyd King
- Jason Cline
- Michael Brimble
- Teddy Anderson
Agenda
Color Key: Completed | In Progress/Did Finish | Moved to Next Standing Meeting
- Bullshit
- Housekeeping
- TOUR Update
- Market Discussion
Next Steps:
- All
Housekeeping
- Taxes
- No update on this
- CPA
TOUR
- Update regarding payments
- Outsiders
- Going forward
- MGA WM will pay a separate business to plan its annual meeting
Market Discussion
- Fund Performance YTD
- -12.78%
- Benchmarking
- Need to decide what our purpose is
- Each fund has its own objectives, but the overall organization needs a goal
- Should there be individual benchmarking for funds?
- Align on our investing goals
- Admiral Fund
- Google is getting oversold due to unfounded fears
- Google also has Waymo
- China, South Korea, & someone have a big trade pact for semiconductors
- AI
- Regardless of no progress made in terms of profitable uses of AI at this point, there will be a huge need for data processing. Companies like Amazon, Google, Microsoft are positioned to take advantage of this.
- Is this downturn manufactured?
- Maybe the market has been looking for a reason to have a pullback
- A reason to take money off the table
- Just when all retail traders close all of their positions, that’s when big money comes back in and buys everything at a 20-30% discount
- The Trade Desk
- A fair portion of our underperformance this year has been due to TTD
- A lot of positions were in tech related sectors, which were wiped by the most recent downturn.
- Recently went to hedging QQQ by buying shorter term puts to take advantage of the downturn in tech.
- Hedging is something to think about and take advantage of. VIX Calls for example when the market is at an inflection point
- Akro
- Nike is at an all time low
- Used car stocks – Tariffs
- Things like Carvana, Carmax
- With new car prices getting expensive and a potential hit to incomes, inflation still rising, people will turn to used cars
- Earnings Season is coming – April 11
- Names reporting first, particularly in the tech sector, could throw a lot of volatility into the market.
- Rocket Companies
- Buying RedFin & something called Mr. Cooper Group
- Trying to create a seamless home ownership experience
- Could be positioning to boom, if the housing market takes off
- Symbotic
- Automated warehousing solution
- Subsidiary to Walmart
- Signed deals with Albertsons
- Just finishing up a class action lawsuit
- Treace Medical Concepts
- Acquisition opportunity
- After a downturn, the market that tends to perform the best bouncing back
- Mortgage delinquencies and Auto Loan delinquencies are on the rise
