The Figures and the Triggers, page-26

Hello Dwale,

Not that it matters, but just for accuracy, when I marked my sentiment as buy, the stock was .32 cents at the beginning of the year. I removed my sentiment indicator at a significantly higher price (I did not pay attention to the price at the time but I think you are right that it was north of 50). This was not because we changed our view on the stock but because I decided that I did not want my posts to be in any way construed as a recommendation one way or another. I come to this forum to share fundamental insights and not to tell anyone whether to buy or sell the stock.

You are correct that it is possible to deduce that we sold some stock at 34 cents that we bought at 35 cents. I suspect this will not turn out to be smart in absolute terms but it was the right thing for us. It is also possible to deduce that we bought back some of the stock we sold at under 30 cents, again this was just managing position size. At 29 cents , the position was smaller than it was at 34 cents and it lowers our average price.

I certainly do not think that any of us should be investing in a company like this for a 5 cent "turn" , so please dont read anything into it other than getting position size right for our level of confidence.

Much more interesting is
1) The work of a fellow investor which I promised to share regarding some savvy analysis of whether the volatility in ARR growth can be attributed to very large new customer accounts, which are large enough to affect the quarterly ARR growth depending on which quarter they fall due on. .
and
2) Some downside valuation work which we have done to assess (a) If the market is correctly valuing LVT, what growth rate is the market assuming. and (b) If we input lower growth rates than our base case, what kind of valuations do we come up with and (c) If the growth rate in ARR is 28% (the proverbial disappointing Sept quarter), what is a conservative valuation.

However, you will have to wait until tomorrow because its Sunday night here on a cold Fall evening and split pea soup is for dinner.