ADBE — All updates

That's what we saw with Adobe, Lululemon, all of those companies.

one position that kept winning all of these capital allocation wars in our intrinsic value portfolio has been Adobe. We added to our Adobe position and I had to look it up four times already.

And I can also spoil that the first lesson we need to take from this is only double down when the stock is at least down 15 to 20% from our entry price because we kept buying in the range from 380 to 315 which looking back at it might have been a bit too expensive.

Adobe is down massively from $660 per share. Now it's down to 255. So the stock is still down around 60 to 70% from its all-time highs.

So let's look at each of these and start off with Adobe. I believe Adobe has a high potential for a turnaround and the reason why is because this is one of the clearest cases of the fundamentals not matching the story.

There is a massive massive disconnect. Typically, when you hear a story of a company, the fundamentals should follow it to some degree. They they should go up with the story or they should go down with the story.

But in this case, the fundamentals are saying one thing, the story is saying an entirely different thing.

I'll be going over some expectations for this as well as Adobe that will also be reporting earnings later this week.