Disclaimer that I also sold my GOOG recently, also largely in compliance with my biases as an engineer.
As an investor, though, calling the “top” for a company like Google (or Microsoft) is so challenging — not “top” in terms of all time high valuation, but “top” in terms of differential forward-looking, annualized, and adjusted-for-tax returns vs VGT or VOO (i.e. a more challenging target).
These are some of the most entrenched and profitable companies in modern history. Even as they mediocratize, they remain value-accretive for years. It’s difficult to imagine them losing to inflation.
Buffet choosing Apple over any of the other FAANG/M may be looked upon even more favorably, 10-20 years from now, than it is today. Google and Microsoft are tight together in second, but I think you’re right that we’ll look back on 2018-??? as Google’s equivalent to the Ballmer years.
As an investor, though, calling the “top” for a company like Google (or Microsoft) is so challenging — not “top” in terms of all time high valuation, but “top” in terms of differential forward-looking, annualized, and adjusted-for-tax returns vs VGT or VOO (i.e. a more challenging target).
These are some of the most entrenched and profitable companies in modern history. Even as they mediocratize, they remain value-accretive for years. It’s difficult to imagine them losing to inflation.
Buffet choosing Apple over any of the other FAANG/M may be looked upon even more favorably, 10-20 years from now, than it is today. Google and Microsoft are tight together in second, but I think you’re right that we’ll look back on 2018-??? as Google’s equivalent to the Ballmer years.