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No. of Recommendations: 2
Great post Bear and subsequent contributions.

You are definitely right, its no longer a "no brainer" like it was in the Summer. Any other ideas of no brainers from you or Rex then I'm all ears! : )

However, its ticking many of my boxes (not the SaaS one clearly!) to justify the spot of my current highest conviction. I guess my founder led, long term disrupter roots are more evident here with Peloton, which I'm trying to blend my portfolio with alongside the magic of the Saul & Bear strategy.

This is very early innings, we're seeing their FaaS model starting to evolve (Fitness as a service) ala Roku's switch from hardware to software, the brand/community is off the charts, they've barely marketed their core products and John Foley is a visionary founder/CEO. And that's just the story, the financial metrics are humming. From what I can currently see, there is plenty of evidence for Peloton to be throwing down 10b in revenue in the future.

I will be watching them like a hawk though for any warning signs as you would expect for top tier positions and will very much scale back this position (or exit Saul style) if the future doesn't look as rosy. Positive vaccine news in 2021 and the winding down of lockdowns could be its real test next year.

Until then I can only see continued momentum on all levels for Peloton.

I know Zoom & Crowdstrike are SaaS, but I'd love to get yours or any other posters thoughts on your top reasons for why they remain top tier holdings?

Thank you for raising this, its certainly got me thinking of how to keep punching holes in our companies.
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