Longleaf Partners, an asset management company, released its “Longleaf Partners Fund” second quarter investor letter. A copy of the same can be downloaded here. The fund declined 15.56% in the second quarter, just ahead of the S&P 500 Index, which dropped 16.10%. Even though the fund outperformed the S&P Index, it lagged the Russell 1000 value index. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.
In the second quarter investor letter, Longleaf Partners discussed stocks like Warner Bros. Discovery, Inc. (NASDAQ:WBD). Headquartered in New York, New York, Warner Bros. Discovery, Inc. (NASDAQ:WBD) operates as a media company. On August 31, 2022, Warner Bros. Discovery, Inc. (NASDAQ:WBD) stock closed at $13.24 per share. One-month return of Warner Bros. Discovery, Inc. (NASDAQ:WBD) was -20.77% and its shares lost 53.43% of value over the last 52 weeks. Warner Bros. Discovery, Inc. (NASDAQ:WBD) has a market capitalization of $32.141 billion.
Here is what Longleaf Partners specifically said about Warner Bros. Discovery, Inc. (NASDAQ:WBD):
“Warner Bros. Discovery, Inc. (NASDAQ:WBD) – A new purchase within the last year, media conglomerate Warner Bros Discovery’s (WBD) stock price has been materially impacted by a terrible Netflix quarter (that probably is a good sign for WBD long-term) and fears of a downturn impacting advertising revenues and subscribers. While we believe these are valid concerns, media has historically been an attractive industry for our style of investing and media companies have been inflation beneficiaries. While the market is taking a “show me” approach to see how the merger will unfold, we believe the company has multiple levers to grow free cash flow per share. We saw eight different insiders buy shares personally in the quarter, which is an extremely strong vote of confidence from people who have a clear view of the challenges and opportunities facing the company.”
Warner Bros. Discovery, Inc. (NASDAQ:WBD) is not on the list of 30 Most Popular Stocks Among Hedge Funds. Warner Bros. Discovery, Inc. (NASDAQ:WBD) was held by 68 hedge fund portfolios at the end of the second quarter compared to 47 in the previous quarter.
We discussed Warner Bros. Discovery, Inc. (NASDAQ:WBD) in another article and shared Argosy Investors’ views on the company. You can check out our hedge fund investor letters Q2 2022 page for more investor letters from hedge funds and other prominent 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…
But the real story isn’t Nvidia — it’s a much smaller company quietly improving the critical technology that makes this entire revolution possible.
And judging by what I’m hearing from both Silicon Valley insiders and Wall Street veterans…
This prediction might not be bold at all:
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