Not only did David Tepper increase his position in Alibaba $BABA by 158% last quarter, but it is now his #1 position size - approaching $1 Billion - at today’s mark-to-market price.
“When it rains gold pull out a bucket, not a thimble,” Warren Buffett.
Big concentrated bets
Long thread on $BABA: A friend asked this morning what I was doing with our portfolio position in $BABA (9988.HK) given the news over the weekend. My reply was, “Only play is to wait it out. Not buying, not selling. Just waiting.” (1) 👇
Alibaba $BABA earnings take:
-Generated $8B Free Cash Flow.
-Buyback Authorization now large enough to buy in ~18% of the company ($35.3 B).
-Taobao and Tmall Group revs up 2%
-Cloud Intelligence revs up 3%
-AIDC (International) revs up 44%. AliExpress up 60%.
-Revenues grew 5%