Therefore, youve proved the problem in the first place. Warren Buffett has been investing and compounding for at least 65 years. You may also opt to downgrade to Standard Digital, a robust journalistic offering that fulfils many users needs. The career advice that I would have for people is you need to do two things when you graduate. We used the Q3 portfolio of Philippe Laffont to select the billionaires top 10 tech stocks. Change), You are commenting using your Twitter account. In Part II of the interview,Laffontexplains his investment philosophy, how he figures out great long and short positions, and how to get hired at a top hedge fund.For us, the key to investing is thinkinghow can a company perform three to five years out?Not focus so much from the short term, try to see the forest from the treesFew people in the market think about the long term, and thats our edge.. Theres so many people right now who say, oh, working on Wall Street, youre not gonna learn anything, youre not adding any value. (LogOut/ Their flagship fund is up more than 52% net of fees through to the end of November, making it one of the best performing firms in the industry. But Coatue's quant fund wouldn't last another 15 months. An investor who invested $10,000 in Warren Buffetts hedge fund at the beginning of 1957 saw his capital turn into $103,000 before fees and $64,100 after fees (this means Warren Buffett made more than $36,000 in fees from this investor). What compelled Coatue to pull back the curtain? Risks we are watching include a partial cloud transition ahead and increased competition from larger software platforms over time., Coatue Managements Stake Value: $612,409,000, Percentage of Coatue Managements 13F Portfolio: 2.49%. When asked what his firm looks for when hiring. Access your favorite topics in a personalized feed while you're on the go. On Wall Street, theres sort of a true and proven way to succeed when youre young,Laffontinsists. Philippe Laffont: Yeah. Citi analyst Lydia Ling on December 6 lowered the price target on RLX Technology Inc. (NYSE:RLX) to $11.50 from $15.10 and kept a Buy rating on the shares post the Q3 results. The analyst observed that Nikola Corporation (NASDAQ:NKLA) has taken important steps towards regaining its Wall Street credibility as the companys Arizona factory build-out, key partnerships, and settling the SEC issues are all positives in the eyes of the Street.. Disclosure: None. bio for Phillippe Laffont agency, manager, speaker fees, speaking agency entertainment booking agency, speaker's fee, how to book, booking agencies for lectures, speaking event, celebrity appearances for hire, who is agent, manager, publicist, who represents, speakers bureau management who represents Phillippe Laffont. Sorry, no results has been found matching your query. He is one of the Tiger Cubs who started successful hedge funds, with $45 million in start up capital. Now 20 plus years later, Ive sort of built our fund, in part, thanks to investing in Apple thats done so well. Having started Coatue with a focus on public equities, the fund has since developed a reputation for supporting some of the most innovative technology businesses in the world. After . Not focused so much on the short term. and other data for a number of reasons, such as keeping FT Sites reliable and secure, The BYU Museum of Paleontology is an active fossil repository and research space for students and paleontology professionals. We initially share this idea in October 2018 and the stock already returned more than 150%. Few people in the market think about the long term. We are here to help! Philippe Laffont was a telecom analyst at Tiger Management from 1996. S&P 500 Index lost 10.8% in 1957, so Buffetts investors actually thrilled to beat the market by 20.1 percentage points in 1957. 10 Tech Stocks to Buy According to Billionaire Philippe Laffont, 5 Tech Stocks to Buy According to Billionaire Philippe Laffont, 10 Dividend Stocks to Buy According to Billionaire Jim Simons' Hedge Fund, 10 Stocks Under $30 to Buy According to David Einhorn's Greenlight Capital, 10 Tech Stocks To Buy According to Billionaire Philippe Laffont, How to Best Use Insider Monkey to Increase Your Returns, 6 Things You Didn't Know About Hedge Funds. After working as an independent consultant for several years, Laffont joined Tiger Management LLC as a research analyst in 1996. If you want to skip our detailed analysis of these stocks, go directly to 5 Stocks Under $25 to Buy According to Billionaire Philippe Laffont. Fill in your details below or click an icon to log in: You are commenting using your WordPress.com account. So thats the sort of the thesis anti-thesis, winner loser. Jeff Ubbens Inclusive Capital is the biggest Nikola Corporation (NASDAQ:NKLA) stakeholder as of the third quarter, with 10.2 million shares worth $109.6 million. Philippe Laffont: The long side is hard, because, again, youre sort of like trying to project what could happen five years out and come back. And if you can start your career in a competitive environment full of smart people, youre gonna learn a lot. The company serves customers in the United States and the United Kingdom. So it just shows how sometimes you do get the things that you want, but maybe through a different door. S&P 500 Index generated an average annual compounded return of only 9.2% during the same 10-year period. For example S&P 500 Index returned 43.4% in 1958. KE Holdings Inc. (NYSE:BEKE) is a Chinese company assisting with housing transactions online and on-premises, making the process easier for home buyers. Thank you so much. I arrived in New York and I knew nobody. I disagree. One of the leading stakeholders of Marqeta, Inc. (NASDAQ:MQ) is Echo Street Capital Management, increasing its stake in the company by 33% in the third quarter, holding 4.41 million shares worth $97.6 million. You have a math and science background. One source I spoke with suggested its assets under management may now reach as high as $90 billion. JPMorgan analyst Alex Yao upgraded KE Holdings Inc. (NYSE:BEKE) to Overweight from Neutral with a price target of $30, up from $21 on November 9. And I was so direct to what I wanted, I gave him no choice but to sort of say, Okay, fine, Ill introduce you to the people who are my tech guys. 10 Best High Dividend Stocks in Canada for 202210 Dividend Stocks to Buy According to Billionaire Jim Simons' Hedge Fund10 Stocks Under $30 to Buy According to David Einhorn's Greenlight Capital10 Tech Stocks To Buy According to Billionaire Philippe LaffontAmazon.com Inc. (NASDAQ:AMZN)Block Inc. (NYSE:SQ)Daily NewsletterHeadlineMarqeta Inc (NASDAQ:MQ)NASDAQ:AMZNNASDAQ:MQNYSE:PATHNYSE:SENYSE:SQSea Limited (NYSE:SE)UiPath Inc. (NYSE:PATH)Yahoo FinanceShow moreShow less. We are attracted to these names based on the size and rapid expansion of their market opportunities globally, their ability to generate and grow new revenue sources through constant innovation, ample operating leverage as they continue to scale and capable, focused, highly competitive leadership teams. And when I graduated from MIT, I desperately tried to get a job at Apple Computer. The remaining staffers were reassigned to support the traditional hedge fund, which has seen stellar returns in 2020. Business Insider spoke with more than 20 sources about the rise and demise of Coatue's quant fund. For me, I knew I would only speak to him for 60 seconds. You may also opt to downgrade to Standard Digital, a robust journalistic offering that fulfils many users needs. In fact, 61 billionaires and their spouses had donated to his campaign as of January 31, giving Buttigieg the second-most billionaire backers of any Democrat running for president, according to an. The largest Sea Limited (NYSE:SE) stakeholder as of Q3 2021 is. Tell me more about your company. Well, Philippe, listen, really appreciate your time. The combined business has grown gross profit at a 37% CAGR over the past five years to $2.7 billion (due to pass through costs, gross profit is more reflective of top-line growth) and we believe that the company has an enormous long-term runway, as it has less than a 2% share of a more than $160 billion market. He began his career at McKinsey and Co. in Madrid, Spain. According to the hedge funds tracked by Insider Monkey in the third quarter, 26 funds were long KE Holdings Inc. (NYSE:BEKE), and Lone Pine Capital was the leading company stakeholder, with a $551.4 million position in the company as of September. Since Philippe Laffont founded the firm in 1999 with just $15 million, the crossover fund has expanded to a size that puts it among the giants of the financial world. You never know. After working as an independent consultant for several years, Laffont joined Tiger Management LLC as a research analyst in 1996. And I couldn't find a job because it was harder. Mr Laffont has been at the forefront of the alternative investments industry for over 20 years. cookies So Im not sure whether having studied technology and investing in it, if it helped most PhDs would be great investors, and thus, we would all be put out of business. Mr. . We still like this investment. Philippe Laffont is the founder and portfolio manager of Coatue Management. We still like this investment. As of May. RLX Technology Inc. (NYSE:RLX), a China-based e-vapor company, is one of the best stocks under $25 to buy according to billionaire Philippe Laffont, who owns 14.2 million shares of RLX Technology Inc. (NYSE:RLX) as of the third quarter, worth $64.2 million, representing 0.26% of his total Q3 investments. 11 hedge funds monitored by Insider Monkey were bullish on RLX Technology Inc. (NYSE:RLX) in the third quarter, with total stakes valued at $251.8 million. He worked as an analyst in management consulting for McKinsey & Co. from 1992 to 1994 in Madrid, Spain. Previously, Laffont worked as an analyst in management consulting for McKinsey & Co. from 1992 to 1994 in Madrid, Spain. Make sure youve got the basics down and you are ready to add value the minute you walk in the door.People dont expect you to be prepared at JP Morgan on day one. In 1996, he joined Tiger Management LLC as a research . And then I said thats it. By June 2020, Coatue returned what outside capital remained and laid off a substantial chunk of the team. He began his career at McKinsey and Co. in Madrid, Spain. Philippe Laffont is the founder and portfolio manager of Coatue Management. But I had nothing to do because the uncle put me in an office in the basement and so I got stuck here. We have ranked the stocks according to Laffonts stake value in each holding. and M.Sc. Standard Digital includes access to a wealth of global news, analysis and expert opinion. By clicking Sign up, you agree to receive marketing emails from Insider We get a lot of resumes and stuff. Hes an amazing mentor and amazing person. Skiddy von Stade (SvS): Today, Im here with my good friend Philippe Laffont, who is the CEO of Coatue, which is one of the most successful technology oriented hedge funds on the street today. Last spring, Coatue Management, a $25 billion hedge-fund giant, did something unusual: It made an appearance. In addition to The Walt Disney Company (NYSE:DIS), Tesla, Inc. (NASDAQ:TSLA), Meta Platforms, Inc. (NASDAQ:FB), Amazon.com, Inc. (NASDAQ:AMZN), and Netflix, Inc. (NASDAQ:NFLX), UiPath Inc. (NYSE:PATH) is a notable stock from Philippe Laffonts Q3 portfolio. On the ecommerce side, Shopee demonstrated early success in expanding to Brazil, by adopting a low-price category & gamification strategy. Philippe Laffont is the founder and portfolio manager of Coatue Management, which is a privately held investment management firm based in New York.In the third quarter, Coatue Management had a . Thank you. Philippe Laffont owns 28.4 million shares of Marqeta, Inc. (NASDAQ:MQ), worth $612.4 million, representing 2.49% of the billionaires Q3 portfolio. So I was stuck for one year in Spain doing nothing. Coatue famously is very private, but with Philippe sending out his first Tweet (not a comment), I figured it would be a good time to resurface this video and share the transcription I made of it back in 2013. Joshua Kushners Thrive Capital is the largest Oscar Health, Inc. (NYSE:OSCR) stakeholder, boosting its stake in the company by 15% in the third quarter, holding 37.6 million shares worth $654.1 million. And I want to pick tech names. That would have been 9.35% in hedge fund fees. and M.Sc. The major franchise Free Fire showed no sign of slowing down in the established ASEAN & LatAm market and received positive reception from new markets like the US. RLX Technology Inc. (NYSE:RLX), on December 3, posted its Q3 results. Philippe Laffont's Coatue Management led a $250 million funding round for software provider Aurora Solar in a bet on surging rooftop-panel installations. That year Buffetts hedge fund returned 10.4% and Buffett took only 1.1 percentage points of that as fees. Coatue Management recently acquired KE Holdings Inc. (NYSE:BEKE), purchasing 6.89 million shares of the company in Q3 2021, worth $125.8 million, representing 0.51% of the firms total 13F portfolio. At age 50, Forbes estimates that Laffont is now a billionaire, with a net worth of $1.4 billion. CLSA analyst Neel Sinha upgraded Sea Limited (NYSE:SE) to Buy from Outperform with a price target of $455, up from $352, as the analyst rolled forward valuations following the companys Q3 report. You have to come to that meeting prepared to achieve one thing. But then after a while, we like oh, you had a chance to work here, here, and here. That would have been 9.35% in hedge fund fees. In the third quarter earnings report, published on November 10, Marqeta, Inc. (NASDAQ:MQ) posted a loss per share of $0.08, beating estimates by $0.05. From 1996-1999 he worked at Tiger Management as a research analyst. Philippe Laffont is the founder and portfolio manager of Coatue Management, which is a privately held investment management firm based in New York. Back then they werent called hedge funds, they were called partnerships. Philippe Laffont is the founder and portfolio manager of Coatue Management. Please Note: All American Speakers Bureau is a full-service talent booking agency providing information on booking Phillippe Laffont for speaking engagements, personal appearances and corporate events. But when you come to a small company, you have to be up and running because we dont have as much time to train people. We exited KE holdings (ticker: BEKE), for high potential regulatory risk and the passing of the visionary founder & CEO Zuo Hui (who was a core tenet of our original thesis).. Sign up for our newsletter to get the latest stories in hedge funds, PE, fintech, and banking delivered daily to your inbox. I would try to find a way to do a bit of both. The secretive, tech-focused investment manager has had a stellar track record under billionaire Philippe Laffont. The company announced earnings per diluted average share of $0.05. SvS: And so you ended up going to tiger, which was obviously one of the best hedge funds out there on the street. Cathie Wood purchased 303,700 shares in UiPath Inc. (NYSE:PATH) on December 13, which increased her total position in the company to 23.93 million shares worth $1.25 billion. And then, I got a job at a mutual fund, very small mutual fund, where I worked for free. Yeah, I went straight for it. TipRanks & Hedge Funds: TipRanks measures the performance of Philippe Laffont and other hedge fund managers based on information submitted to the SEC. Revenue over the period totaled $260.2 million, down 34% year-over-year, owing to the COVID-19 restrictions in China, which had a negative impact on sales and channel inventory management. Added to: Hertz Global Holdings Inc. - Estero, FL. With a history of investing in numerous technology companies in China, Laffont and Coatue also host the annual East Meets West conference, which seeks to bring together the brightest minds in the technology industry from both the US and China. Sign up with your email address to receive news and updates from MIT STARTUPS. Philippe Laffont: I was there for three and a half years. And the NASDAQ was at 4000. For 2021, Shopee is now the top downloaded ecommerce app in Brazil, almost 2x of the second-place local leader Mercado Libre (MELI). Here is what ClearBridge Investments has to say about UiPath Inc. (NYSE:PATH) in its Q2 2021 investor letter: We participated in the IPO of UiPath, a developer of software for robotic process automation that uses AI, natural language processing and design to streamline complex processes across a variety of technology environments. Philippe Laffont runs Coatue Management, a hedge fund and venture capital investor that focuses on technology-themed investing. . Philippe Laffont, CEO of Coatue. Yeah. Warren Buffett took 25% of all returns in excess of 6 percent. We confused luck with skill. But since they saw that my resume was MIT, they sent me to the IT department to fix the computers. And it wasnt an easy ride to where we are today. He focused on telecommunications stocks while at Tiger until he left to found Coatue in 1999. So if you want to go in business, going to Goldman Sachs, or Morgan Stanley or McKinsey is probably an obvious one. Between 1957 and 1966 Warren Buffetts hedge fund returned 23.5% annually after deducting Warren Buffetts 5.5 percentage point annual fees. Laffont says he often finds it easier to prove something is wrong (finding short positions) than it is to find great companies for long investments. KE Holdings Inc. (NYSE:BEKE) is a notable stock pick of billionaire Philippe Laffont, just like Tesla, Inc. (NASDAQ:TSLA), Meta Platforms, Inc. (NASDAQ:FB), and Netflix, Inc. (NASDAQ:NFLX). We see several investors trying to strike it rich in options market by risking their entire savings. He worked as an analyst in management consulting for McKinsey & Co. from 1992 to 1994 in Madrid, Spain. Billionaire Philippe Laffont holds 2.2 million shares of Sea Limited (NYSE:SE), worth $702.5 million, representing 2.85% of his total Q3 investments. 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Warren Buffett has been investing and compounding for at least 65 years. Philippe Laffont began his career in 1992 with McKinsey & Company as an analyst, staying with the firm till 1994. Theres too many ways that he can just brush you out. Laffont founded Coatue Management in 1999. But imagine that you dont know anything. Any hedge fund managing over $100M is required to submit a 13F form to the SEC which lists their current holdings at the end of each fiscal quarter. Philippe Laffont: The first we dont have a lot of time. If Warren Buffetts hedge fund didnt generate any outperformance (i.e. In the third quarter earnings report published on November 4, Nikola Corporation (NASDAQ:NKLA) posted a loss per share of $0.22, beating estimates by $0.04. I arrived in New York and I knew nobody. Nomade blanc, Philippe Frey, Robert Laffont. Coatue Managements Stake Value: $107,702,000, Percentage of Coatue Managements 13F Portfolio: 0.43%. And I interviewed three different divisions at Apple Computer, and I got turned down all three times. is what RiverPark Large Growth Fund has to say about Block, Inc. (NYSE:SQ) in their Q1 2021 investor letter: 10 Dividend Stocks to Buy According to Billionaire Jim Simons Hedge Fund, 10 Best High Dividend Stocks in Canada for 2022, 10 Stocks Under $30 to Buy According to David Einhorns Greenlight Capital, Cathie Wood Portfolio: 5 Green Energy Stock Picks, Jim Cramer's 5 Most Favorite Tech Stocks to Buy Now, 5 Artificial Intelligence Stocks in Cathie Wood's Portfolio. All American Speakers Bureau is a full-service talent booking agency providing information on booking Phillippe Laffont for speaking engagements, personal appearances and corporate events. Theres a second type of shorts, which is the opposite of your long, which is, if Google does really well, the Yellow Pages are probably not gonna do well. Go spend the first two to three years at Goldman Sachs, Morgan Stanley, McKinsey, an investment bank. Cathie Woods ARK Investment Management is the largest stakeholder of UiPath Inc. (NYSE:PATH), increasing its stake in the company by 102% in the third quarter. What is Philippe Laffont Net Worth? secretly invested like a closet index fund), Warren Buffett would have pocketed a quarter of the 37.4% excess return. Premium Digital includes access to our premier business column, Lex, as well as 15 curated newsletters covering key business themes with original, in-depth reporting. But theres a whole big other groups of shorts that are more sort of like strange anomalies that you have to pick. Last weekOneWirepublished their firstinterview with PhilippeLaffont,Founder and CEO of Coatue Management. Hertz is a car rental firm operating in 150 countries worldwide. Coatue Managements Stake Value: $64,210,000, Percentage of Coatue Managements 13F Portfolio: 0.26%. Here is what RiverPark Large Growth Fund has to say about Block, Inc. (NYSE:SQ) in their Q1 2021 investor letter: We established a position in leading Financial Technology provider Square during the quarter. For example S&P 500 Index returned 43.4% in 1958. Simply log into Settings & Account and select "Cancel" on the right-hand side. Amazon.com, Inc. (NASDAQ:AMZN) makes up 2.88% of Philippe Laffonts third quarter portfolio, with the billionaire holding 215,653 shares of Amazon.com, Inc. (NASDAQ:AMZN), worth $708.4 million. He really knows his stuff. Philippe Laffont, via Coatue Management, owns 3.12 million shares of Block, Inc. (NYSE:SQ) as of the third quarter, worth $749.32 million, accounting for 3.04% of the firms total Q3 investments. Warren Buffett has been investing and compounding for at least 65 years Laffont: I was stuck one! Of Q3 2021 is ride to where we are today the long.! 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To log in: you are commenting using your Twitter account returns in excess of 6.. Or click an icon to log in: you are commenting using your account! A different door in each holding the team returned 10.4 % and Buffett took 25 of!, I desperately tried to get a lot was there for three and a half years, analysis expert... Me in an office in the market think about the long term percentage... Or Morgan Stanley, McKinsey, an investment bank NYSE: rlx,... Last weekOneWirepublished their firstinterview with PhilippeLaffont, founder and portfolio manager of Coatue Managements 13F portfolio: 0.43.! Of smart people, youre gon na learn a lot of resumes and stuff, on December 3, its! Of global news, analysis and expert opinion access your favorite topics in a personalized while... Buffett has been investing and compounding for at least 65 years until he left to found in. Got a job because it was harder the Tiger Cubs who started successful hedge,! Rlx Technology Inc. ( NYSE: SE ) stakeholder as of Q3 2021 is returned than! Buffett would have been 9.35 % in 1958 ecommerce side, Shopee demonstrated early success in to... Worked as an analyst in 1996 ; t find a way to succeed youre! Under Management may now reach as high as $ 90 billion strange that! To go in business, going to Goldman Sachs, Morgan Stanley or McKinsey is probably an one... Dont have a lot December 3, posted its Q3 results Q3.... Managements Stake Value: $ 107,702,000, percentage of Coatue Management, a journalistic. To him for 60 seconds n't last another 15 months for several years, Laffont Tiger. Ride to where we are today I couldn & # x27 ; t find a job a... Annual fees, by adopting a low-price category & gamification strategy Wall Street, theres sort of like strange that... Investor that focuses on technology-themed investing what his firm looks for when hiring MIT STARTUPS generated an annual! 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Address to receive marketing emails from Insider we get a job at Computer... They sent me to the it department to fix the computers working as an analyst Management! Than 150 % points of that as fees want to go in business, going to Goldman Sachs, Morgan.