Warren Buffett's $570 million bet on Snowflake shows he completely trusts his deputies, investor Jake Taylor says
to public listings, loss-making tech companies, and lofty valuations - demonstrates that he has"total trust in Todd and Ted," Lountzis said.at the last count, are free to make their own investment decisions.in 2017."It's entirely their decision."Snowflake is seeking a $24 billion valuation, more than 78 times its revenue last year.
"My personal view is 'value' can come in a lot of flavors," he said."Just because something isn't statistically cheap doesn't mean it can't be mispriced."Zachary Lountzis, Paul's son and a vice president at his fund, made a similar argument."Growth is a component of value," he said, as a business can be be undervalued if the market underestimates its future earnings growth."All investing is value investing," he said.
"All the same calculation goes into it, whether you're buying some bank at 70% of book value, or you're buying Amazon at some very high multiple of reported earnings."
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