Meta: Investors See Through Ad Overload Amid Speculative AI Dreams

Core Insights - The article discusses the author's previous oversight regarding Meta's aggressive spending plans and their potential impact on earnings [1] Group 1: Company Strategy - The company aims to invest in firms with strong qualitative attributes and acquire them at attractive prices based on fundamentals [1] - The strategy includes maintaining a concentrated portfolio to avoid underperformers while maximizing exposure to high-potential winners [1] Group 2: Investment Philosophy - The investment approach involves rating companies as 'Hold' when their growth opportunities do not meet the author's threshold or when downside risks are deemed too high [1]