The market is concluding FB is not likely $1 trillion company. The Q is order of magnitude for FB $TEV.
A. $1000B ? No...
B. $100B? Maybe
C. $10B? Possible
I think Theil is obvi not betting on $1T.
Thus, after 8 yrs, time to go.
At ranges between B and C, holding a large position in a public stock that is exhibiting true volatility (ie, something other than upward drift), is not likely to please his LP investors.
Nor, similarly would it be advised for his own holdings.
Reading more into the tea-leaves (ie, operationally) might be fun, but I'm not sure its adding explanatory power to what we are seeing here.
A. $1000B ? No... B. $100B? Maybe C. $10B? Possible
I think Theil is obvi not betting on $1T.
Thus, after 8 yrs, time to go.
At ranges between B and C, holding a large position in a public stock that is exhibiting true volatility (ie, something other than upward drift), is not likely to please his LP investors.
Nor, similarly would it be advised for his own holdings.
Reading more into the tea-leaves (ie, operationally) might be fun, but I'm not sure its adding explanatory power to what we are seeing here.