Carmignac: Sell Amazon for Facebook

Could this be the end of the rally for high-multiple tech stocks like Amazon? Carmignac's David Older thinks it could pay to back Facebook instead

David Brenchley 28 January, 2019 | 8:24AM
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Valuation discipline will be important in the coming years when investing in tech stocks, as high-multiple names are likely to see lower returns, according to Carmignac.

Despite a tough year for the Carmignac Patrimoine fund, the more racy holdings in its equity portfolio – like Amazon (AMZN), Wayfair (W) and Grubhub (GRUB) – contributed postively to returns in 2018.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Alphabet Inc A2,827.36 USD0.00Rating Inc3,409.02 USD0.00Rating
Booking Holdings Inc2,538.34 USD0.00Rating
Carmignac Pf Patrimoine F GBP Acc136.52 GBP-0.12Rating
Facebook Inc A324.76 USD0.00Rating
Wayfair Inc Class A239.77 USD0.00Rating

About Author

David Brenchley

David Brenchley  is a Reporter for