Many high-profile hedge funds jumped back into technology stocks — the group that hurt their alpha the most last year — just in time to benefit from the furious comeback in the new year. Stephen Mandel's Lone Pine Capital significantly upped its holdings in Microsoft and Amazon , making them top bets at the end of the fourth quarter. Meanwhile, Philippe Laffont's Coatue Management significantly hiked its stakes in Alibaba , Microsoft and Advanced Micro Devices during the fourth quarter.
Hedge funds overall saw significant negative long alpha last year, with the single biggest contributor being exposure to info tech, according to Goldman Sachs. .IXIC 1Y mountain Nasdaq Composite The rebound in technology stocks came fast and furious in the new year. The Nasdaq is up more than 12% year to date after notching its best monthly performance since July in January. Meta has added 43% in 2023, while Amazon has gained 15%. AMD is up 21% this year.
Ai plus..
Google dominance
Keep your eyes on the “smart money”. Lol
2 % target has been around a long time. And it is just a target here as you just saw inflation jump to 9% before action was taken. High inflation is bad, that we do know. Letting it get high is stupidity. That is why Biden and Powell are looked at being incompetent at best