Core Insights - Rothschild & Co Wealth Management's LongRun Equity strategy reported a return of +3.9% in Q3 2025, underperforming its benchmark which returned 7.5% [1] - Since inception, the strategy has achieved an annualized return of 10%, compared to 11% for global equities [1] - The market has favored riskier, growth-oriented, and often unprofitable companies over the firm's focus on high-quality, profitable companies [1][3] Company Highlights - Alphabet Inc. (NASDAQ:GOOG) was highlighted in the investor letter, with a one-month return of -1.44% and a 52-week gain of 59.78% [2] - As of December 24, 2025, Alphabet Inc. closed at $315.67 per share, with a market capitalization of $3.811 trillion [2] - The favorable outcome of the US Department of Justice's antitrust case against Alphabet Inc. is expected to maintain the status quo, providing clarity for the company [3] - Google's partnerships and data-sharing agreements are likely to remain stable, with potential for slight reductions in payments to partners like Apple [3] - The focus for Alphabet Inc. will be on continued product investment and the rollout of new AI capabilities across its various platforms [3]

日前，美国电影艺术与科学学院与视频网站YouTube签署了一项协议，授予后者奥斯卡颁奖典礼的全球 独家播放权。该协议将于2029年第101届奥斯卡奖开始生效，至少持续至2033年。这也意味着自1976年 开始转播这项盛事的美国广播公司（ABC），彻底失去了播出权。 奥斯卡颁奖礼有望多字幕多语言同步直播 此项协议生效后，奥斯卡颁奖典礼包括红毯报道、幕后花絮和终身成就奖颁奖典礼在内的各项活动，都 会面向全球观众在YouTube上免费直播。据知情人士透露，YouTube上的奥斯卡颁奖典礼可能会提供多 语言字幕甚至是多语言音轨，希望此举能让奥斯卡更容易被"日益增长的全球奥斯卡观众"接触到。这项 协议也被视为学院方面想要拯救奥斯卡收视率的举措。在当代受众越来越远离传统电视机的情况下，新 媒体——尤其是适合长视频的YouTube平台，无疑拥有更为广泛的观看人数与影响力。 各国观众有望同步在YouTube上以母语字幕观看奥斯卡颁奖礼。 而对于ABC及其母公司迪士尼而言，这不仅会造成经济上的损失（上一届奥斯卡颁奖典礼的收入约为 1.27亿美元），更意味着整个行业的变革。传统广播电视行业的江河日下早已是不争的现实，且不仅是 在 ...

Core Insights - Top hedge fund managers have significantly invested in Meta Platforms and Alphabet, with Meta's market value at $1.6 trillion and Alphabet's at $3.7 trillion, reflecting year-to-date stock increases of 13% and 64% respectively [1][2] Meta Platforms - Meta holds a strong position in digital advertising and smart glasses, being the second-largest ad tech company globally and leading in smart glasses shipments [4][6] - The company leverages artificial intelligence to enhance user engagement and ad conversion rates, with CEO Mark Zuckerberg highlighting improvements in content relevance through AI recommendation systems [5] - Analysts project Meta's earnings to grow at 17% annually over the next three years, with a median target price of $842 per share, indicating a potential 27% upside from its current price of $661 [8][9] Alphabet - Alphabet is the largest ad tech company, utilizing AI to enhance monetization of Google Search and YouTube, with significant increases in query volume and content optimization for influencers [9][10] - The company has developed the Gemini AI assistant, which has over 650 million monthly active users, positioning it as a strong competitor in the AI space [10] - Alphabet's Google Cloud is the third largest public cloud service, with a 34% increase in total cloud sales in the third quarter, driven by demand for AI chips and models, and projected revenue growth of 44% by 2026 [11][12] - Analysts expect Alphabet's earnings to grow at 15% annually over the next three years, with a median target price of $330 per share, suggesting a 6% upside from its current price of $310 [13][14]

这句话用在当下谷歌的身上，也有点贴切呢。 2022 年 11 月 ChatGPT 引发 "AI 红色警报 " 后，谷歌两位退休也就两年的联合创始人 谢尔盖 · 布林（ Sergey Brin ）和拉里 · 佩奇（ Larry Page ） " 被叫回来帮忙 " ，并开始频繁出现在办公室。 随着 2025 年谢尔盖更多外界亮相，以及 Gemini 的突飞猛进，完全回归的状态不仅仅是点燃了谷歌内部的 创业热情，也让资本圈格外沸腾。 连伯克希尔哈撒韦，在 3 季度都开始大手笔买入谷歌。 （ 点击阅读： 巴菲特新入手的科技巨头是李录第 一大重仓，景林高毅三季度也在猛加仓…… ） 想起马斯克最近讲到 AI 竞争中的三个关键点，首先是人才；以及"硅谷教父"史蒂夫·霍夫曼在上海一场线下 交流中点评 Meta 时说"其内部缺少自己培养的工程师文化"……如今看到谷歌两位硬核技术的创始人回归， 确实有点感叹其技术和人才的护城河，有些很难复制。 一位投资人在点评巴菲特投资助手托德·库姆斯最近离职伯克希尔加盟摩根大通时说，"牛人还是希望跟最牛 的人在一起。" 到底两位创始人回归代表着什么？这段时间其实看了很多 谢尔盖 · 布林 的访 ...

Core Viewpoint - Alphabet has emerged as the top-performing stock among the "Magnificent Seven" in 2025, achieving a total return of 57% so far this year, recovering from earlier underperformance compared to competitors like Microsoft [1]. Group 1: Stock Performance and Market Position - Alphabet's stock is currently trading at a price of $315.68 with a market capitalization of $3.8 trillion and a price-to-earnings (P/E) ratio of 30, significantly higher than the 15 P/E ratio earlier this year [3][13]. - The stock has shown a daily change of +1.40% and has a 52-week price range of $142.66 to $328.67, indicating substantial volatility and growth potential [3]. Group 2: AI Market Share and Growth - Alphabet's Gemini AI model has gained a 13% share of the AI market in 2025, marking a significant increase from minimal usage, although it still trails behind competitors like ChatGPT [6]. - The company benefits from a cost advantage by utilizing its own data center infrastructure and computer chips for Gemini, making it more profitable compared to competitors like OpenAI and Anthropic [7]. - Despite spending approximately $25 billion quarterly on capital expenditures, Alphabet continues to generate positive free cash flow, allowing for self-funding of its AI expansion [8]. Group 3: Revenue Streams and Growth Drivers - Alphabet's revenue is currently growing at 15% year over year, supported by multiple revenue streams including YouTube, which generates over $10 billion in quarterly advertising revenue, and Google Cloud, which is growing at 34% year over year with over $15 billion in quarterly revenue [10][11]. - The main profit driver remains Google Search, contributing $50 billion in quarterly sales, indicating a robust and diversified revenue model [10]. Group 4: Future Outlook - The long-term earnings growth potential for Alphabet is strong, particularly if Gemini continues to capture market share in the AI sector [9]. - The rapid growth of earnings per share (EPS) is expected to bring down the P/E ratio over time, suggesting that Alphabet may still be a worthwhile investment for long-term holders despite its current high valuation [14].

Welcome back to Market on Close. Shares of Reddit are down 3% right now, but NEM thinks that the stock has a lot of room to run higher. The firm named it its 2026 top pick and added it to its conviction buy list.Needm is positive on Reddit, having 100% human created content and notes that it's already generating more than hund00 million per year in fees from OpenAI and Google's Gemini. And that number could double with Anthropic and Perplexities fees. Shares are up about 40% so far this year.And that of cou ...

The Magnificent Seven stocks continue to be among the most closely followed by investors, analysts and market experts. In an interview with Benzinga, Freedom Capital Markets Chief Market Strategist Jay Woods shares his favorite Magnificent 7 stocks heading into 2026 and which of the seven he's avoiding.Favorite Magnificent 7 StocksDuring an interview with Benzinga in September 2025, Woods said to stick with what was working when it came to big tech stocks and the Magnificent 7 stocks heading into the fourth ...

雷·达里奥的桥水基金（Bridgewater Associates）是当今全球顶尖的对冲基金之一，管理资产超过1，000 亿美元。尽管市场充满不确定性，该基金仍做出了稳健的投资决策。追随亿万富翁的投资步伐，有助于 构建经得起时间考验的投资组合，但尽职调查依然至关重要。 桥水基金在第三季度进行了多项交易，这些变动已体现在其13F报告中。然而，这位亿万富翁在投资上 采取了相对保守的策略——其核心持仓包括两家科技巨头和两只ETF。 iShares Core 标普500 ETF（NYSEARCA： IVV） 桥水基金在iShares Core标普500 ETF中的配置最高，占其投资组合的10.62%。该基金在第三季度增持了 4.83%，目前持有超过100万股IVV，并自2010年起就开始投资该ETF。IVV的资产管理规模高达7，330 亿美元。 该ETF提供对美国大盘股的广泛敞口，追踪标普500指数表现，投资于按市值排名前500的美国公司，因 此其前十大持仓包括英伟达（Nvidia）、微软（Microsoft）、苹果（Apple）、Alphabet和亚马逊 （Amazon）等。 该基金股息收益率为1.04%，按季度派 ...

Bridgewater has the second-highest position in State Street’s S&P 500 ETF ( NYSE: SPY ), which makes up 6.69% of the total portfolio. The fund also tracks the performance of the S&P 500 and is the first exchange-traded fund listed in the United States.IVV has gained 17.09% in 2025 and is exchanging hands for $687.83. The fund has the potential to outperform the broader market in the coming years. With more than two decades of history, the fund has established itself as a strong player offering broad U.S. eq ...

Available on all platforms:📺 YouTube: https://t.co/uK89GBYN7B🎧 Spotify: https://t.co/aRePgiaLYv🎧 Apple: https://t.co/sXRjtuf6mA https://t.co/3PcW0w6qA6 ...