Insights | 08 July 2019

Alphabet and the DOJ

Authors

Tom Hancock

Dr. Hancock is the head of the Focused Equity team, a portfolio manager for GMO’s Quality Strategies and a partner of the firm. Previously at GMO, he was co-head of the Global Equity team. Prior to joining GMO in 1995, he was a research scientist at Siemens and a software engineer at IBM. Dr. Hancock holds BS and MS degrees from Rensselaer Polytechnic Institute and a PhD in Computer Science from Harvard University.

Ty Cobb

Mr. Cobb is a portfolio manager for GMO’s Quality Strategies. He is a member of the Focused Equity team and a partner of the firm. Previously at GMO, he led the fundamental research group for the Global Equity team. Prior to joining GMO in 1997, he worked at Brown Brothers Harriman. Mr. Cobb received a bachelor's degree in Economics/Russian Language from Bucknell University and an MS in Finance from Suffolk University. He is a CFA charterholder.

Anthony Hene

Mr. Hene is a portfolio manager for GMO’s Quality Strategies and a member of the Focused Equity team. He is also a member of the GMO Board of Directors and a partner of the firm. Previously at GMO, he was engaged in portfolio management within the Global Equity team. Mr. Hene joined GMO full-time in 1995. He has an MSc in Biochemistry from the University of Oxford and is a CFA charterholder.

Summary

Shares in Alphabet have come under a good deal of pressure over the last year as investors process the implications of increasing regulatory scrutiny, culminating in reports this month that the U.S. Department of Justice (DOJ) is preparing for an antitrust probe into big tech. In this short piece, we explain why we believe Alphabet is appropriate for our Quality Strategy as an extraordinary company under a temporary cloud. Markets hate uncertainty; we believe that today’s price discounts the loss of an antitrust case and that this presents us with a long-term opportunity.

Download to read full article.

Register for full access to GMO's Research

Business Email*

Please enter a valid email address

First Name*

Please enter a First Name

Last Name*

Please enter a Last Name

Company/Affiliation*

Please enter a Company

Investor Type*

Investor Type Required

Country*

Country Required

State*

State is required

Create a password that meets the following criteria:

Be at least 8 characters in length. Contains at least 1 lowercase letter. Contains at least 1 uppercase letter. Contains at least 1 special character (!@#$%^&*). Contains at least 1 number. No more than 2 identical characters in a row. Match with Confirm password.

Password*

Confirm Password*

* Indicates a required field

GMO.com uses cookies and other methods to process your personal data in order to provide you with the best user experience. We may use such data to better service you, including by offering products that may be of interest to you, and to better understand how you and others are using the site so that we can improve the site’s functionality.

Your registration will sign you up to receive email notifications when we publish new research and firm updates. You can manage your subscriptions at any time.

By clicking “Submit”, you are agreeing to allow such uses of your data. For more information on how we process your data and your rights, please see our Privacy Notice.

Record Highs…But We’re Still Excited

By Asset Allocation Team

The Great Paradox of the U.S. Market!

By Jeremy Grantham

Horizons Strategy

Equities

Climate Change Strategy

Equities

Jeremy Grantham

Long-Term Investment Strategist, Co-Founder

Tom Hancock

Head of Focused Equity

Record Highs…But We’re Still Excited

By Asset Allocation Team

The Great Paradox of the U.S. Market!

By Jeremy Grantham

Horizons Strategy

Equities

Climate Change Strategy

Equities

Jeremy Grantham

Long-Term Investment Strategist, Co-Founder

Tom Hancock

Head of Focused Equity

Alphabet and the DOJ

Summary

Register for full access to GMO's Research

Record Highs…But We’re Still Excited

By Asset Allocation Team

The Great Paradox of the U.S. Market!

By Jeremy Grantham

Horizons Strategy

Equities

Climate Change Strategy

Equities

Jeremy Grantham

Long-Term Investment Strategist, Co-Founder

Tom Hancock

Head of Focused Equity

Record Highs…But We’re Still Excited

By Asset Allocation Team

The Great Paradox of the U.S. Market!

By Jeremy Grantham

Horizons Strategy

Equities

Climate Change Strategy

Equities

Jeremy Grantham

Long-Term Investment Strategist, Co-Founder

Tom Hancock

Head of Focused Equity

Alphabet and the DOJ

Summary

Register for full access to GMO's Research

Leaving GMO?