Alphabet (formerly known as Google) announced its plans Monday evening to raise cash by selling $80 billion in stock. We were surprised by the news, especially for a company that generates $165 billion in cash flow each year. Furthermore, they’ve only tapped the equity market twice before — once when it went public in 2004 […]
Lately, many people have asked how we’re using artificial intelligence (“AI”) behind the scenes. We’ve embraced this new technology where it makes sense, and it has provided a noticeable boost to our operational efficiency. Tasks that used to take us hours can now be completed in a fraction of the time. This frees up our […]
With the market hitting record highs daily, finding compelling new opportunities at attractive entry points has become increasingly challenging. Brookfield Infrastructure (“BIPC”), which hit almost $70 as recently as March, has pulled back just about 25% the last several weeks to $53.34 today. (Disclosure: Clients, Jeff Pollock, and Sunni Schneider have a financial interest in […]
The investments you don’t own are often just as important as those you do. After years of strong performance, software stocks have had their largest non-recessionary drawdown in almost three decades. One exchange-traded fund (called the iShares Expanded Tech-Software Sector ETF), which is a basket of software stocks, is down nearly 25% so far this […]
Last week, Donald Trump announced he would nominate Kevin Warsh to be the next Federal Reserve Chair, a move that surprised plenty (including us, since we thought Rick Rieder would be selected). The market did not take the announcement well. Many attributed the selloff to Warsh’s criticism of easy-money policies and the large expansion of […]
Google’s parent, Alphabet, is delivering strong results—yet shares are down almost 19% year-to-date. (Disclosure: Clients, Jeff Pollock, and Sunni Schneider are shareholders of Alphabet. No compensation was received to write this blog.) Last quarter, Alphabet reported: Despite these strong fundamentals, the stock trades at just 16x earnings, a meaningful discount both to the broader market […]
