Hi Doug Jsut curious abt your large cap tech purchases. Are these structural longs or trading longs? Do you have a time frame in mind? I know people are talking abt PE’s being cheapest since 2019 but we all know they have issued crazy amounts of debt since then. So is this a play on year end rally or something looking further out ? Or even shorter term than year end? Jsut curious. Ty.
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Dougie Kass
just now
i have a series of tweets that i demonstrate the pe contraction and derisking in the hyperscalers.
in large part this derisking reflects the concerns i have expressed in “more tales” over the last 18 months
again – first level v second level thinking
in other words the valuation contraction has created the “start” of an opportunity as headwinds begin to be discounted
but i am small sized at the get go
in all likelihood these are investments and trading long rentals – in the fullness of time.
but unlike some i can’t calculate with precision the “bottom” in the hyperscalers so i will buy ginerly with a scale lower… at least that is my thinking now.
Doug Kass is a world-renowned hedge fund manager with decades of experience and success navigating through some of the most turbulent periods in market history. He is known for his time-tested analytical skills and ability to look past the current noise and herd mentality.
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