Sydney-based Loftus Peak Ltd, the home of Loftus Peak Global Disruption Fund which has surpassed most peers, sticks to its efforts on some high-tech stocks when investors question their valuations.
Hefty price tags on companies like Apple Inc. and Amazon.com Inc. may be justified in terms of business quality, said Alex Pollak, chief investment officer at Loftus Peak Ltd.
His Loftus Peak Global Disruption Fund has returned nearly 23% this year and has surpassed 99% of peers in one year, three years and five years, according to data collected by Bloomberg.
Apple and Amazon “are below our valuation targets, given the rapid growth in profitability they have delivered, and it looks like they will continue to deliver,” Pollak said in an interview in mid-August, adding that his views have not changed. since the sale of the technology sector during the last week … Still, he sold out of Tesla Inc. as valuation crept up. Pollak owned the share for five years, but was skeptical of balance sheet and management issues in the company, he said.
MacDailyNews Take: Continue the course.