Horos Asset Management, an investment management firm, published its first quarter 2023 investor letter. A copy of the same can be downloaded here. During the quarter, Horos Value Internacional fund returned 6.0% in the volatile market environment compared to a 5.4% rise in its benchmark index and Horos Value Iberia was up 6.1% in the same period, compared to a 10.8% rise of its benchmark. Since Horos’ inception on May 21, 2018, Horos Value Internacional returned 34.0%, compared to a 47.1% gain of its benchmark index, while Horos Value Iberia has returned 10.9%, slightly below its index’s 13.4% return. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
Horos Asset Management highlighted stocks like Mistras Group, Inc. (NYSE:MG) in the first quarter 2023 investor letter. Headquartered in Princeton Junction, New Jersey, Mistras Group, Inc. (NYSE:MG) is a technology-enabled asset protection solutions provider. On June 9, 2023, Mistras Group, Inc. (NYSE:MG) stock closed at $7.32 per share. One-month return of Mistras Group, Inc. (NYSE:MG) was 4.13%, and its shares gained 10.41% of their value over the last 52 weeks. Mistras Group, Inc. (NYSE:MG) has a market capitalization of $221.811 million.
Horos Asset Management made the following comment about Mistras Group, Inc. (NYSE:MG) in its first quarter 2023 investor letter:
“We increased our stake in Mistras Group, Inc. (NYSE:MG) during the quarter in view of the evident recovery of its business this past 2022, as well as our solid cash generation prospects for 2023 and the following years. The company has continued to reduce its debt and has also announced important measures to execute a cost-cutting plan that will undoubtedly contribute to improving the profitability of the business and its cash-generating ability. We believe that the company is completely off the radar of the investment community, both because of its exposure to the oil and gas industry (to which it provides inspection, testing and maintenance services) and because of its small size (about $150 million market capitalization at year-end 2022), which is creating a great investment opportunity.”
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Mistras Group, Inc. (NYSE:MG) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 10 hedge fund portfolios held Mistras Group, Inc. (NYSE:MG) at the end of first quarter 2023 which was 11 in the previous quarter.
We discussed Mistras Group, Inc. (NYSE:MG) in another article and shared Horos Asset Management’s views on the company. In addition, please check out our hedge fund investor letters Q1 2023 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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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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