CRM
Salesforce, Inc.
stock NYSE

In true enterprise software, I like: MSFT ADBE NOW WDAY CRM ROP
But there are other names caught up in this sell off I also see tremendous value in right now like: SPGI MSCI FDS

DAMN GOOD FUCKING POINT: [https://www.sec.gov/Archives/edgar/data/1159510/000137036821000064/a210729-ex992.htm](https://www.sec.gov/Archives/edgar/data/1159510/000137036821000064/a210729-ex992.htm)

T**hat same day, March 24, while the ViacomCBS stock price continued to fall, another of Archegos’s significant long positions, Tencent Music Entertainment Group, plummeted 20%.  CS determined that it would be making a $2.7 billion call for variation margin the next day.**  Given the size of that call, the matter was escalated to the Co-Heads of Prime Services and the Head of Equities, who scheduled a call with Archegos for that evening to inform it of the upcoming margin call.  
 CRM listed Archegos’s long equity swap positions in excess of $1 billion as: ViacomCBS at $1.7 billion; Baidu at $1.5 billion; and Tencent at $1.2 billion.  It also noted that implementing dynamic margining for Archegos was a “major focus area” of CRM and PSR in 2021.
Archegos had significant longs:  Chinese ADRs:  Tencent Music (TME), Vipshop (VIPS), GSX, Baidu (BIDU), and iQIYI (IQ), as well as Viacom (VIAC)...CS ultimately participated in three such Goldman-led block trades, selling shares in Baidu, Tencent, and Vipshop Holdings.

CS sees a vertical slice of \[Archegos’s\] book, meaning there are not any hidden names we’re unaware of
So names like Viacom, Tencent, Discovery all > 3 DTV \[in the CS portfolio\], if there is an issue, all brokers would be looking to exit simultaneously

Exactly. If you want to right now you can give an AI agent database access and code it to enrich data for every contact and create follow-up tasks based on previous communications, product/service offerings, etc. Heck, you don't even need to use an agent, you can simply write code to iterate through every item and use an LLM API to interpret emails, enrich contact info, etc.
Hubspot won't disappear, they'll add more AI to their software. The issue is that they'll probably see margin compression as companies will need fewer seats to manage their CRM, more competitors will appear due to a much lower barrier to entry now and some companies will opt to produce their own internal CRM's using AI and their own stack. THIS is likely what will cause Hubspot's revenue/margin declines.

Sure, but I still don’t really see how that would be viable in practice compared to a mature SaaS product. Do we really expect everyone to build their own ERP, payroll, CRM, etc. software in house and figure out accuracy, compliance, etc.? I also don’t see how most SaaS businesses would become a mature offering by frontier model providers. Seems more likely to me that the existing SaaS or new competitors just allow agentic features and integrations. Could be wrong!

I kinda figured that. I'm probably just going to keep loading up MSFT and ADBE at this time. Maybe some CRM or TEAM. SaaS is looking attractive but also not trying to fall into any value traps so I'm just not sure yet what to do.

I have been bearish for years because of insane valuations but today I bought ADP and CRM, yesterday I loaded up on AMZN and MSFT. I bought MSFT too soon apparently so am upset about that but it's not a deep regret.
Not everything is cheap. But I find the narrative shift "fake." There was no real catalyst, and when there is no real catalyst, when it's just "concerns," the thing usually reverses, it's just a matter of when.
It's INSANE to me as a bear to watch the former bulls become more bearish than me. I am cheering them up and telling them that MSFT actually does have value, etc.! WTF! These people couldn't get enough MSFT when it was $500 and they were still spending too much on capex.
The fact that I of all people own CRM is insane, but people don't know me. It would be like if Trump said "open borders are great."
People are really letting fear get in the way of them seeing value.
I temp and every company I temp at uses and aint changing from ADP or CRM

Pricing is being change from seat based to usage/outcome based. So whether or not agents are now automating the way people use ServiceNow, only # of seats will be affected not usage/outcomes. Similar pricing transition with CRM

I would agree. Some interesting companies I like are: SPGI, MSCI, FDS, ADBE, CRM, WDAY, ROP

How the fuck is a chatbot going to replace a CRM? I still don’t understand how the market thinks this will ever be a thing. Sure you can vibe-code an MVP, but that’s not the hard part of running/using a successful CRM.

Was thrilled to get out of my 2/20 MU calls which were down 80% and make a $2K proft at 306 this morning. Rolled that to CRM 187.5s instead 😐

exists now in the private markets, but when a company like $NOW has given up 5.5 years of gains or $CRM is at pre-pandemic prices it will have an impact eventually in the private markets.
Not as if $CRM or $NOW aren't building agents either.

I have a few posts on SaaS and SPGI which i recommend checking out. What we are seeing right now is people are fleeing to the stocks THEY KNOW are making money. They know Google, Msft and all these tech lords are pumping money into hardware. Every earnings report is saying that.
What they don't know is the how revolutionary AI is. How profitable it is. How destructive it is.
If you look closely though, you can see where WallStreet is making its bets and honestly its pretty damn good at it.
TEAM, NOW, CRM, INTU, ADBE, WKDAY, CSU, VEEV - Murdered
MDB, SNOW, NET, ZS, CRWD - Took a hit but recovered decently
SPGI, SAP, SHOP, - Took a hit for slow growth
MSFT, AMZN are getting punished for being in bed with OpenAI and not having a vision for profitability and CoPilot.

\-- My take as an agentic programmer.
Some of these guys are going to greatly benefit from this transition. The technology with claude and now codex is no joke. My bottleneck for development is primarily how fast I can think of and write requirements. There are technologies that make money from the existence of AI styled programming.
Penetration into monoliths. It will happen eventually. The question I think is what companies are well ran enough to prepare and adapt quick enough to own the monopoly first and keep the market share. That's really it. Intuit may thrive and create some insane products that are amazing. They may also just be a dinosaur and get replaced.
I was looking at job positions and WKDAY looks doomed. They look like a legacy company with their heads chopped off trying to file paper work. Inuit will survive but I think competitors are going to eat their lunch. A lot of fintech is coming for them with cheap SaaS apps. I think the Video Game companies are fine, maybe they will face competition in 10 years but not now.
Adbe is a shit company. If they stop being shit they can survive but who's to know. Once people hate you it doesn't matter if you report strong earnings.

Salesform CRM

Trash product and company. Going bankrupt. NOW, CRM SAP and Constellation are wayyy better plays

Nah, you are good. The DD today cause of CRM and Unity, which triggered a fresh Saas sales. But MSFT is Mera previous quarter.

MSFT, NOW, CRM personally.

I am holding CRM and NOW as well. I am down 5% on each (bought CRM at $196 and NOW at $106)

CRM,ADOBE,DUOL.

From the value perspective, given the recent downturn for the past few days, has there been any that has fallen to the point of worth picking up? I would love to see if we can all compile a list of recommendations.
From my side. CRDO, MELI, CRM, CRWD, CVLT, IREN, LRCX.
I would love to hear what others have picked up or are planning on picking up on Monday.

I´m buying a bit of everything. ADBE, MSFT, CRM, NOW and CSU all makes sense at current valuation relative to risks and estimated future cash flows.