Lakehouse Capital, an investment management company, released its “Lakehouse Global Growth Fund” August 2022 investor letter. A copy of the same can be downloaded here. August was a quiet month, and the fund returned -1.9% net of fees and expenses compared to -2.0% for its benchmark. In addition, please check the fund’s top five holdings to know its best picks in 2022.
Lakehouse Capital discusses the stocks like PayPal Holdings, Inc. (NASDAQ:PYPL) in the August 2022 investor letter. Headquartered in San Jose, California, PayPal Holdings, Inc. (NASDAQ:PYPL) is a financial technology platform. On September 27, 2022, PayPal Holdings, Inc. (NASDAQ:PYPL) stock closed at $85.75 per share. One-month return of PayPal Holdings, Inc. (NASDAQ:PYPL) was -8.23% and its shares lost 66.89% of their value over the last 52 weeks. PayPal Holdings, Inc. (NASDAQ:PYPL) has a market capitalization of $99.168 billion.
Here is what Lakehouse Capital specifically said about PayPal Holdings, Inc. (NASDAQ:PYPL) in its investor letter:
“Lastly, we’ll wrap things up with a comment on our decision to exit our remaining stake in PayPal Holdings, Inc. (NASDAQ:PYPL), which we had already meaningfully reduced throughout the year. We had owned PayPal since the Fund’s inception as we believed it was well placed to continue gobbling up share in online payments, which in turn, was gaining share from the total payments pie. The company also possessed numerous opportunities to grow beyond its core platform, with the ability to add new tools and functionality (crypto offerings, Pay with Venmo, and Buy Now Pay Later etc) and enjoyed significant competitive advantages from its large two-sided network. The company had been performing well and business momentum accelerated during the pandemic. This led management to provide some ambitious growth targets at its investor day in 2021 calling for 15% user growth and 20% revenue growth on an annualised basis over the next five years.”
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PayPal Holdings, Inc. (NASDAQ:PYPL) is in 17th position on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 97 hedge fund portfolios held PayPal Holdings, Inc. (NASDAQ:PYPL) at the end of the second quarter which was 100 in the previous quarter.
We discussed PayPal Holdings, Inc. (NASDAQ:PYPL) in another article and shared RiverPark Funds’ views on the company. In addition, please check out our hedge fund investor letters Q2 2022 page for more investor letters from hedge funds and other leading investors.
Disclosure: None. This article is originally published at Insider Monkey.
When Jeff Bezos said that one breakthrough technology would shape Amazon’s destiny, even Wall Street’s biggest analysts were caught off guard.
Fast forward a year and Amazon’s new CEO Andy Jassy described generative AI as a “once-in-a-lifetime” technology that is already being used across Amazon to reinvent customer experiences.
At the 8th Future Investment Initiative conference, Elon Musk predicted that by 2040 there would be at least 10 billion humanoid robots, with each priced between $20,000 and $25,000.
Do the math. According to Musk, this technology could be worth $250 trillion by 2040.
Put another way, that’s roughly equal to:
175 Teslas
107 Amazons
140 Metas
84 Googles
65 Microsofts
And 55 Nvidias
And here’s the wild part — this $250 trillion wave isn’t tied to one company, but to an entire ecosystem of AI innovators set to reshape the global economy.
It’s a leap so massive, it could reshape how businesses, governments, and consumers operate worldwide.
Even if that $250 trillion figure sounds ambitious, major firms like PwC and McKinsey still see AI unlocking multi-trillion-dollar potential.
How could anything be worth that much?
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In fact, Verge argues this company’s supercheap AI technology should concern rivals.
Before I reveal the details, let’s talk about how some of the richest people on the planet are positioning themselves.
Bill Gates sees artificial intelligence as the “biggest technological advance in my lifetime,” more transformative than the internet or personal computer, capable of improving healthcare, education, and addressing climate change.
Larry Ellison — through Oracle, is spending billions on Nvidia chips and partnering with Cohere to embed generative AI across Oracle’s cloud and apps.
Warren Buffett — not known for tech hype — says this breakthrough could have a ‘hugely beneficial social impact.
When billionaires from Silicon Valley to Wall Street line up behind the same idea — you know it’s worth paying attention to.
Even as we admire what Tesla, Nvidia, Alphabet, and Microsoft have built, we believe an even greater opportunity lies elsewhere…
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