. Snap stock is off 27% since the announcement.
"Aggregate demand is outstripping aggregate supply," said Hogan. "If you don't have things to sell, you're probably not increasing your ad budget." He urges long-term investors to resist the urge to react to volatility and believes they should take a barbell approach to investing, with growth on one end and cyclicals on the other.
"Any given earnings reporting season is not the time to make a broad sweeping change to your long-term investments plan," he said. "But make sure you know what you have on your growth side, and make sure you're picking companies that actually are sector leaders and are measured in a P/E [price-to-earnings ratio] versus price to revenues."
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