This tweet from Raoul Pal caught my attention today re Google:
I really, really want to be bearish on US equities but with $GOOGL breaking out of a wedge, its really difficult to argue the case of broad weakness yet. Same with the ISM still elevated. pic.twitter.com/fBjausuEVr
— Raoul Pal (@RaoulGMI) July 14, 2018
Smart people just want to be bearish. I encounter very few smart people (that care about stocks) extremely bullish right now…at least publicly. That is a fuel the Nasdaq seems to be riding right now and will likely continue to help push it higher.
I have been long Google forever it seems and it has been rather boring the last few years.
I am excited to see it break to all-time highs. Quietly it is now just 20 percent from $1 trillion and could conceivably beat Apple and Amazon in the race to the magic market capitalization.
I have no idea how to value Google, but nobody does. The good news is people keep trying and failing.
There has never been a public company with so many levers to pull come earnings time.
I think the biggest fuel for Google is YouTube.
I saw this baby (Ellen guessed 8 months old) at Chipotles last night surfing YouTube on an iPhone. It blew my mind:
Talk about an amazing 8 to 80 brand and company… and by 8 in this case I mean 8 months old, not 8 years old.
Also published on Medium.