No. of Recommendations: 7
Have those selling GOOG based on valuation considered their ownership stakes in Space X , Anthropic and Waymo?
Fair point. Though very valuable, I don't think those positions are dominant for valuation purposes, simply because Alphabet's core business is so darned big. (and those are hard to put a justifiable number on)
More to the point, at least for me personally, my current lightening is purely intended as a cyclical wager, on the theory that there are better and worse times to have large positions. I don't have doubts about the overall value trajectory and I'd be pretty long term bullish. I think Waymo in particular may prove to be an outstanding holding over time and I remain bullish. I'm just wagering that the next (say) 1-2 years seem statistically likely to have some re-entry points that offer more, umm, immediate gratification.
Jim
