Karen Finerman

That's not been a good one for me, but I look at LVMH versus Kering, for example. So you have two conglomerates, each has extraordinary brands. Kering has really struggled with Gucci. And that is the main driver of their business. And it's just been a disaster for a couple of years. So, I mean, we're talking about like revenues down 20. Revenues. That's enormous.

And so to me, that would fall in the, oh, we might have a material change here in that a couple of things. Something happened about two years ago that I really didn't like and made me sell my stock in Caring, which was the CEO, who's married to Salma Hayek, the actress, bought CAA, took control of Creative Artists Agency. And I hate acquisitions like that that are a huge distraction.

And so to me, that would fall in the, oh, we might have a material change here in that a couple of things. Something happened about two years ago that I really didn't like and made me sell my stock in Caring, which was the CEO, who's married to Salma Hayek, the actress, bought CAA, took control of Creative Artists Agency. And I hate acquisitions like that that are a huge distraction.

And so to me, that would fall in the, oh, we might have a material change here in that a couple of things. Something happened about two years ago that I really didn't like and made me sell my stock in Caring, which was the CEO, who's married to Salma Hayek, the actress, bought CAA, took control of Creative Artists Agency. And I hate acquisitions like that that are a huge distraction.

And it sort of really shows sort of taking your eye off the ball. And coincidentally, that was when this sort of all the pent-up demand and spend from the pandemic was starting to wane. And so for all of the luxury houses, that was sort of weighing on them. But caring is, you know, pretty levered. And so that distraction, I thought, was really not a good sign.

And it sort of really shows sort of taking your eye off the ball. And coincidentally, that was when this sort of all the pent-up demand and spend from the pandemic was starting to wane. And so for all of the luxury houses, that was sort of weighing on them. But caring is, you know, pretty levered. And so that distraction, I thought, was really not a good sign.

And it sort of really shows sort of taking your eye off the ball. And coincidentally, that was when this sort of all the pent-up demand and spend from the pandemic was starting to wane. And so for all of the luxury houses, that was sort of weighing on them. But caring is, you know, pretty levered. And so that distraction, I thought, was really not a good sign.

So one thing about Bernard Arnault, he is all in. He is engaged all the time.

So one thing about Bernard Arnault, he is all in. He is engaged all the time.

So one thing about Bernard Arnault, he is all in. He is engaged all the time.

Yeah. And so I don't know if I don't know why you bought it. I don't know. I assume she's represented that, I guess. So I really didn't like that. And I thought, all right, if I'm going to have exposure in that area, I'd rather have LVMH.

Yeah. And so I don't know if I don't know why you bought it. I don't know. I assume she's represented that, I guess. So I really didn't like that. And I thought, all right, if I'm going to have exposure in that area, I'd rather have LVMH.

Yeah. And so I don't know if I don't know why you bought it. I don't know. I assume she's represented that, I guess. So I really didn't like that. And I thought, all right, if I'm going to have exposure in that area, I'd rather have LVMH.

I think Amazon is really attractive now. It hasn't traded here at this level. So I like to look at PE, assuming a balance sheet's fine, which their balance sheet is, it's, Very good. It's not as good as Alphabet, but it's very, very, very good. That's not an issue in any way at all. It's a positive.

I think Amazon is really attractive now. It hasn't traded here at this level. So I like to look at PE, assuming a balance sheet's fine, which their balance sheet is, it's, Very good. It's not as good as Alphabet, but it's very, very, very good. That's not an issue in any way at all. It's a positive.

I think Amazon is really attractive now. It hasn't traded here at this level. So I like to look at PE, assuming a balance sheet's fine, which their balance sheet is, it's, Very good. It's not as good as Alphabet, but it's very, very, very good. That's not an issue in any way at all. It's a positive.

So I think we haven't had a chance to buy a business like this, AWS, which I don't know if you saw on CNBC, Andrew Sorkin's interview with Andrew Jassy last week. And he talked about AI as the most transformative thing. They are not slowing down. their AI business. And like what they saw as the opportunity in cloud, maybe a decade ago. This is what they think the opportunity is now.

So I think we haven't had a chance to buy a business like this, AWS, which I don't know if you saw on CNBC, Andrew Sorkin's interview with Andrew Jassy last week. And he talked about AI as the most transformative thing. They are not slowing down. their AI business. And like what they saw as the opportunity in cloud, maybe a decade ago. This is what they think the opportunity is now.

So I think we haven't had a chance to buy a business like this, AWS, which I don't know if you saw on CNBC, Andrew Sorkin's interview with Andrew Jassy last week. And he talked about AI as the most transformative thing. They are not slowing down. their AI business. And like what they saw as the opportunity in cloud, maybe a decade ago. This is what they think the opportunity is now.

The margins in that business are gigantic. And then they have this extraordinary retail business. And so together you're trading, it's trading at about 28 times earnings. It hasn't been here probably ever in its entire history. So that's one that I've been adding to that I like.