Why I Sold ServiceNow and Reallocated Capital Into Higher Conviction Names
Great investors are not static. They reassess, reallocate, and redeploy capital when the facts change…or when better opportunities emerge.
Dear readers,
Welcome back to the Quality Equities newsletter.
One of the most under appreciated skills in long-term investing is knowing when to reallocate capital. Not because a business has suddenly become bad…but because better opportunities exist elsewhere. Portfolio management is not about activity for activity’s sake. It’s about continuously directing capital toward the highest-quality businesses with the most attractive long-term risk-adjusted returns.
Recently, I made the decision to exit my position in NOW 0.00%↑ ServiceNow, and redeploy the proceeds into
