Baron Funds, an investment management company, released its “Baron Small Cap Fund” third quarter 2022 investor letter. A copy of the same can be downloaded here. In the third quarter, the fund declined 3.64% (Institutional Shares), underperforming the Russell 2000 Growth Index, which was 0.24% up, and outperforming the S&P 500 Index, which was 4.88% down. In addition, please check the fund’s top five holdings to know its best picks in 2022.
Baron Funds discussed stocks like Clarivate Plc (NYSE:CLVT) in the Q3 2022 investor letter. Headquartered in London, the United Kingdom, Clarivate Plc (NYSE:CLVT) operates as information services and analytics company. On October 31, 2022, Clarivate Plc (NYSE:CLVT) stock closed at $10.33 per share. One-month return of Clarivate Plc (NYSE:CLVT) was 3.71%, and its shares lost 56.21% of their value over the last 52 weeks. Clarivate Plc (NYSE:CLVT) has a market capitalization of $6.957 billion.
Here is what Baron Funds specifically said about Clarivate Plc (NYSE:CLVT) in its Q3 2022 investor letter:
“We added to our position in Clarivate Plc (NYSE:CLVT). The company offers highly valuable proprietary data that allow its clients to discover, protect, and commercialize new ideas and inventions. Clarivate’s analytical applications become deeply embedded in its customers’ workflows, demonstrating high customer retention and pricing power. We have confidence that the new management team will accelerate organic revenue growth after digesting and integrating two large recent acquisitions. The stock’s valuation has gotten too cheap (less than 10 times 2023 estimates of free-cash-flow per share) for a company with such a strong moat around its products, defensive end-markets, and subscription-based revenue model that generates strong free cash flow.”
Speedcurve Performance Analytics
Clarivate Plc (NYSE:CLVT) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 31 hedge fund portfolios held Clarivate Plc (NYSE:CLVT) at the end of the second quarter which was 36 in the previous quarter.
We discussed Clarivate Plc (NYSE:CLVT) in another article and shared the best stocks to buy today according to billionaire Thomas Steyer. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.
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
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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.
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