Shane Obata

Believes widespread negativity in the market will improve. Situation in Ukraine not going away soon, but thinks other concerns (US monetary policy & China worries) will subside. Market already pricing in hawkish US Federal Reserve actions.

China opening up, Ukraine situation de-escalating and falling inflation would be catalysts towards an improving economy. Shifting trends in spending will also affect certain stocks better than others (travel services vs. eCommerce).

Difficult stock to own lately, but thinks management is headed in the right direction. Company at the intersection of two trends (ride sharing & food delivery). Main question is whether company can be profitable (especially with rising interest rates). Ride sharing will normalize in society, creating opportunity for company. Technical issues still being worked out such as "time to destination" calculation, but should be normalized over time.

Favorite tech name as extremely durable business. Not concerned about slowdown of advertising business. Recent tech selloff creating buying opportunity. Believes company will continue to grow especially with assets like YouTube.

Part of group that includes high quality software companies (Alphabet etc.) Forward multiples have come down which is presenting a good buying opportunity. Established business that will rely on selling more to existing customers. Creative business needs are not going away in the marketplace. Company will do extremely well over the next 5 years.

Company is a merger arbitrage opportunity (trading below private takeover offer price). Investigating merits of takeover offer would be worth investors time. Platform is excellent source of news in all aspects of life. Believes large opportunity for the company going forward.

Continues to like the prospects of the company even with extremely high valuation. Sky high valuation is justified given the advanced nature of software and technology. Results coming in better than expected as production increases with stable costs. Company able to raise prices on products as consumers willing to pay. Autonomous driving presenting large opportunity many years into the future.

Inflation. Significant portion is coming from energy. There are real inflationary pressures out there, as the labour market keeps getting better and wages are rising. Interest rates will remain lower for longer, so it won't have too much effect on the companies they own for the long term. Shorter end bond yields, tied to monetary policy, has been moving all over the place. But the 10-years haven't moved quite that much. People might be thinking we're getting to peak inflation.

Positioning. Continues to like tech. It's been a great space. There was a time when rates were going up, tech stocks were getting pulled. It might make some sense on a discounted cashflow model for some higher growth companies; however, there are a lot of good companies that aren't as tied to rates as the market was suggesting. This disconnect has been rectified with tech now going up with rates, which is more normal. He's focused on workplace technology and enterprise solutions. Security has been important. He's not avoiding any sectors in particular; they have broad exposure.

EV manufacturer out of China, so still some ADR risk. In his bullpen, but his preference is NIO. NIO has an interesting battery as a subscription service model. A large part of EV cost is the battery. NIO's model lets people swap their battery when it runs out, and so the upfront cost is much lower. TSLA is his favourite EV stock, which should do well in China. TSLA is now manufacturing in China, and so skirting around import costs and being more competitive. Chinese government could make sure a Chinese company, NIO or another, wins the market.

NIO has an interesting battery as a subscription service model. A large part of EV cost is the battery. NIO's model lets people swap their battery when it runs out, and so the upfront cost is much lower. Chinese government could make sure a Chinese company, NIO or another, wins the market.

TSLA is his favourite EV stock, which should do well in China. TSLA is now manufacturing in China, and so skirting around import costs and being more competitive. Chinese government could make sure a Chinese company, NIO or another, wins the market.

FTN vs. LBS An interesting structure, but they have their own at his shop. One is a play on ENB. Very optimistic about the potential for ENB to continue raising its dividend. He also has a real estate split with a mix of long-term value REITs and industrial exposure to access the e-commerce trend.

LBS vs. FTN An interesting structure, but they have their own at his shop. One is a play on ENB. Very optimistic about the potential for ENB to continue raising its dividend. He also has a real estate split with a mix of long-term value REITs and industrial exposure to access the e-commerce trend.

Geopolitical risk? Geopolitical is clearly a risk, but he likes to think cooler heads will prevail. Hasn't participated in the recent rally as much, but it's only a matter of time. A great company. One of his favourite ways to play the space for foundries. Likes AMD for CPUs, NVDA for GPUs, ASML and AMAT for semi manufacturing equipment.