$400M Fund Manager Says Forget Tesla, Uber, and DoorDash: These 3 Cheaper Rival Stocks Might Be Better Bargains
2 Articles
2 Articles
$400M Fund Manager Says Forget Tesla, Uber, and DoorDash: These 3 Cheaper Rival Stocks Might Be Better Bargains
Investors often gravitate towards the biggest names in an industry. However, ValueWorks founder Charles Lemonides believes that approach can overlook smaller companies with long-term potential trading at significantly lower valuations. Lemonides, whose firm manages about $400 million through a hedge fund and other investment strategies, said in an interview with MarketWatch that 'there's a winner-take-all fallacy in certain industries, and there…
While the stock market rewards market leaders, hedge fund manager Charles Lemonides is betting on challengers. His thesis is that the market overestimates the dominance of winners – and underestimates credible alternatives. Lemonides, who runs ValueWorks, describes the view of some industries to MarketWatch as a “winner-take-all fallacy.” Three companies illustrate the strategy: Lyft, Rivian and Instacart. Lyft is growing faster than Uber Lyft’s…
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