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TCEHY - Project $1M: Salesforce Drives August Returns
Tencent Holdings Ltd. ADR
Project $1M is structured as a high growth, low turnover portfolio, which was designed as my alternative to investing in the S&P 500. The portfolio was started in November 2015 with the objective of turning a capital base of $275,000 into $1M by November 2025.
The investment philosophy underpinning Project $1M was the purchase and long-term hold of largely high-quality, large-cap, growth-oriented businesses with sustainable competitive advantages.
After a more sedate July, the Project $1M portfolio turned in a strong result in August, driven largely by a dominant performance by Salesforce (CRM).