Mon, Dec 10, 2018
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Hedge funds go long tech at Sohn

Tuesday, April 24, 2018

Bailey McCann, Opalesque New York:

Top tier hedge fund managers gathered in New York to give their best ideas at the Sohn Conference today. Overall managers seemed more confident about their picks than they have in previous years.

Tech dominates Sohn bets

Citing recent controversy, DoubleLine's Jeff Gundlach announced that he was short Facebook. In his presentation, he said that regulation is coming for the tech giant and when that happened in other once hot industries stocks tanked.

"What's happened in the past will happen again and again and again," Gundlach said.

Facebook was the only tech short announced at the conference which was positive on the sector overall. After Gundlach, Social Capital's Chamath Palihapitiya led a tech-heavy presentation that included long calls on Google parent Alphabet. He also reinforced his long cases on Amazon and Tesla from last year's conference. "We still believe," Palihapitiya said of Tesla.

For 2018, Palihapitiya announced a long call on Box, a data management application. He argued that where companies like Google and Amazon have the infrastructure in place to support the growth of data and artificial intelligence, Box allows users to organize and manage data in a way that is useful for powering AI applications. Palihapitiya ended his presentation with a pithy summation - "be long Apple, be long Google, but frankly be long Box."

Glen Kacher of Light Street Capital rounded out an alread......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Outlook: The economist who discovered the yield curve's predictive powers says he's getting worried, The 'big squeeze': Ray Dalio, founder of the world's largest hedge fund, breaks down how the next financial meltdown will look different from the last[more]

    The economist who discovered the yield curve's predictive powers says he's getting worried From CNBC: Arturo Estrella and his former Fed colleagues used to watch the relationship between the 10-year Treasury and the 3-month bill. A lot of people have been focused lately on the di

  2. People: Deutsche Bank appoints new country head in Switzerland, London's MENA Capital and Dubai's Al Mal agree collaboration deal, BlueBay appoints new CIO[more]

    Deutsche Bank appoints new country head in Switzerland From Investment Europe: Deutsche Bank has appointed Claudio de Sanctis as the new chief executive officer of Deutsche Bank (Switzerland) Ltd, effective 1 February 2019, after Peter (Pedro) Hinder decided to step down. The appoint

  3. Hedge funds pivot back to stocks, raising leverage from 2018 low[more]

    From Bloomberg: The smart money is finally warming up to U.S. equities after turning defensive in the past few months. Hedge funds' gross leverage, a measure of the industry's risk appetite, climbed 2.5 percentage points to 234.5 percent as of Nov. 29 from a one-year low reached 10 days earlier, cli

  4. Brexit: Hedge funds make big bets against post-Brexit UK economy, Hedge funds rent a lifeline to stay afloat in EU post-Brexit, Treasury green-lights sale of new EU funds into UK[more]

    Hedge funds make big bets against post-Brexit UK economy From The Guardian: A pair of hedge funds owned by prominent Brexit supporters have made significant bets against companies exposed to the British consumer including big high street names. Odey Asset Management, part-owned by Cr

  5. Trends: Licking their wounds, fund managers prep for rally in '19, Concerns rising over leveraged loan market[more]

    Licking their wounds, fund managers prep for rally in '19 From Reuters: With bond and equity markets from the United States to emerging markets all on pace to lose money this year, investors have not seen this much red on their screens since 1972, the last time no asset class returned at