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Technology stocks could be a “disaster waiting to happen,” the bosses of Smead Capital Management said in their third-quarter newsletter this week.
Amazon, Facebook, Apple, and Google wield monopoly power over their addicted users, and the pandemic has only increased people’s reliance on their products and services, Bill Smead and his team said.
Tech investors could face brutal losses if regulators dismantle the companies and tax them more effectively, they said.
Smead and his team are betting on companies that provide necessities such as Target and American Express.

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Growth stocks may be a “disaster waiting to happen,” the heads of Smead Capital Management warned in their third-quarter newsletter this week.

Amazon, Facebook, Apple, and Google have monopoly power over their addicted users, Bill Smead and his co-portfolio managers, Tony Scherrer and Cole Smead, told their shareholders. Offering services such as YouTube and Instagram for free means rivals can’t compete with them on price, they continued.

Read more: 200-plus money managers pay thousands to see which stocks are on Jim Osman’s buy list. He details 2 he sees doubling and says one has at least 50% left to soar.

The coronavirus pandemic has only strengthened their position by …read more


Source:: Businessinsider – Finance

      

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