Altimeter's Brad Gerstner on CNBC:
- We have down exposure by adding shorts and reducing some positions
- Gone from 80% net long to 60% net long
- I think it makes sense to trim a little.
- I don't think it's a market that will treat all stocks equally
- The market is driven by technology with the reacceleration caused by AI
- If you are not beating your numbers or elevated guidance you may suffer
- We want to be in the names of companies that are accelerating like Nvidia, Amazon, Meta Platforms..
The NASDAQ index is trading of 38.82 points or 0.24%. The S&P indexes string up 0.31%.
