INVESTING SHOW: Facebook and some US tech 株 are good value but I wouldn't buy Tesla, says Blue 鯨 経営者／支配人

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The high-飛行機で行くing Blue 鯨 Growth 基金 has 得るd the rewards of the US 株式市場's bounce 支援する from the coronavirus 衝突，墜落 - 配達するing a 34 per cent 伸び（る） for 投資家s over the past six months.

The 全世界の 基金 - run by Stephen Yiu and 支援するd by Peter Hargreaves - is 投資するd ひどく in the US, which accounts for 72 per cent of its holdings and its 最高の，を越す ten features a raft of 科学（工学）技術-関係のある companies, 含むing Adobe, Facebook and Microsoft.

Considering the remarkable run that US 株 and the tech 部門 have been since the coronavirus 衝突，墜落 lows at the end of March, has the market become detached from reality - as some 示唆する - or have the world's 井戸／弁護士席-known 数字表示式の 指名するs 証明するd themselves far more resilient than people thought?

Stephen joins Simon Lambert on this episode of the 投資するing Show to 株 his 見解（をとる）s on what has happened with the market - and also why he sees some big 指名するs such as Facebook as value 投資s but would not buy Tesla or Netflix.?

The Blue 鯨 基金 持つ／拘留するs just 25 companies from around the world, which it considers to have the best prospects, resilient 商売／仕事 models and - perhaps surprisingly for a US and tech 激しい growth 基金 - and to be good value.

In fact, Stephen 述べるs himself as a value 投資家, but says that this 伴う／関わるs looking to 選ぶ up companies at a good price, rather than the 肉親，親類d of 取引 地階 value 投資するing 戦略 once 述べるd by 伝説の 投資家 Ben Graham as 選ぶing up pennies in 前線 of a steamroller.

Stephen discusses how this philosophy fitted with using a high 割合 of cash in the 基金 as the coronavirus 危機 攻撃する，衝突する to 追加する to holdings of アマゾン and PayPal at a knock 負かす／撃墜する price, but also then selling 負かす／撃墜する some of those holdings after their 株 prices ロケット／急騰するd in the sharp 回復.

He also 明らかにする／漏らすs why にもかかわらず Tesla riding out the 嵐／襲撃する, he doesn't see the company as one he would 投資する in and why although Netflix's subscription model is 高度に attractive it 苦しむs from the same 商売／仕事 model problems as 首相 League football clubs.

Blue 鯨 Growth 基金?

経営者／支配人: Stephen Yiu

現在進行中の 告発（する），告訴（する）／料金s: 0.89%

基金 size: £520million

Holdings: 25 ??

部門: 全世界の?

Year-to-date (vs 部門): 24.1% (4.6%)

Six months (vs 部門):??

One-year (vs 部門): 21.8% (6.1%)

Three-year (vs 部門): 72.8% (26.4%)

部門 階級 over three years: 13/338

The Blue 鯨 Growth 基金 holdings and 業績／成果 to 28/9/2020