Was Google's valuation really getting that out of hand and did lots of other people see the earnings miss? Or are the Tiger Global guys just that good - I feel like before yesterday anyone else would have seen their put position (nearly 3.7% of their portfolio according to the last 13-F) and seen that as pretty risky.
Or maybe it was something else? I notice a lot of Tiger cubs tend to run very similar positions - anyone else notice if the others had similiar short positions on GOOG also?
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Tiger's that good
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I can personally vouch that some Tiger cubs do indeed have these short positions.
It's no surprise that they talk among themselves.
So they caught a 2% decline? Depending on when they initiated the position, they could still be down quite a bit on it. If P/E valuations (ie., future growth) drive the stock price, then earnings per se may not necessarily be the driver of the stock's price.
Yea seriously, GOOG finished down 1.5%... $15 on a $900 stock.
Now had they caught Ebay's move after earnings than that would've been impressive.
They do a lot of data mining I think on the advertisers that drive top-line (saw this in a Coatue presentation once) - and CPCs have been declining for many consecutive quarters so they probably saw a miss coming
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