Buy India Fund (IFN)

I bought India Fund (IFN) today for following reasons.

- India has underperformed other emerging markets for several years, making purchase price attractive.

- Election of Modi in May 2014 on economic modernization platform. BJP's majority in Lok Sabhaon has facilitated passing budget, renewable energy projects, high speed rail project and reforms to help middle class purchasing power.

- India surpassed China as fastest growing economy last quarter which should unleash national pride and motivation.

- Friend who has worked in India for 10 years confirms enthusiasm is palpable. "People are going out more, restaurants are packed, they are buying cars and houses. Haven't seen this kind of optimism for years."

Price: $27.385 / share
Amount: 2.78% of portfolio
Position: 7.98% of portfolio

Buy FB, Buy LC, Buy IFN, Sell ITB

Buy Facebook $75
+ Dominant player, "7 footer" in Buffet speak
+ Zucherberg has long term perspective
+/- Teens leaving (93% -> 88%) Facebook are going to Instagram (+25%), because...
+ More parents spending time on Facebook
+ If Facebook does search for products right it will be a huge revenue stream

Buy Lending Club $21
+ Down 30% in 1 month without any bad news
+ Appears to be forming a low
+ Awesome prospects for disrupting the incredibly profitable banking sector

Buy India Fund $28
+ India now the world's fastest growing economy, surpassing China
+ Early innings of a long bull run
+ Indians voting for financial reform, Modi delivering

Sell ITB
+ Housing run in the late innings
+ Unemployment already low 5.7% so waning potential for improvement
+ Rates are low but probably will move up in mid-2015

Google GOOGL Sell $501 All remaining.
- Lost search market share because of Mozilla defecting.
- Could lose a lot of market share if Apple shifts default to another.
- Apple consolidating smartphone business, Android losing momentum.
- No good strategy to counter Facebook.
- Cuban says possible short.

Google GOOGL Sell $529 30%

Google experiences numerous headwinds
- Yahoo replacing Google as Firefox default search engine
- Apple considering dropping Google as default search engine for iPhone
- Android seems to lack momentum compared to Apple for phone & tablet market
- Being spread too thin may become problem if tide turns against core businesses

Solar City sell $51.75 (10%)

+ Lofty expectation getting harder to match
+ Price of oil going down because of greater US oil production, trend to continue for many years.

Sell Apple (APPL) $99

+ Expectations could be higher than reality of announcement.
+ iWatch may be a nice item but will have hard time generating meaningful revenue bump.
+ If iPhone 6 disappoints then there will be a substantial sell-off.
- If iPhone 6 generates buzz stock has some room to increase but not a huge amount.

Sell SCTY $75.90

Selling 10% of Solar City after considerable run-up.
+ Last quarter's beat will be hard to match.
+ CFO stepping down could mean trouble ahead.
- Several analyst have raised estimates which may mean Solar City will outperform.