Lone Pine Capital’s Latest Investor Letter Argues that Tech Disruption has Destroyed the Value Stock Thesis, and Warns that the ‘Past is Not Prologue’ (Business Insider) Lone Pine Capital‘s two funds – Lone Cypress and Lone Cascade – each lost more than 2% in the third quarter thanks to the shift away from momentum, or growth, stocks, the firm said in a letter to its investors. The funds are still up double-digits for the year, and Lone Pine said in its letter that it doesn’t expect a temporary market shift to value stocks to be a sign of things to come. “Much has been written about the multi-year underperformance of ‘value’ stocks, with an expectation of a reversion to the mean. We believe that structural changes in the economy, driven in part by technology, make this unlikely,” the letter states.
blah blah blah... a bunch of imbeciles left in the dust... most investors are too dumb though... it's public knowledge that QQQ is unbeatable, yet very few can commit to it.
For someone who is against survivorship bias, advocating only QQQ over any other index is full of irony