BROKERS’ NOTES: Buy Meta, sell the meme stonks

A sign is posted in front of Meta headquarters on April 28 2022 in Menlo Park, California. Picture: GETTY IMAGES/JUSTIN SULLIVANOver the past three weeks we’ve seen some of our favourite names — Amazon, Google, Meta, even Nike — down about 30% year to date, on average. B

ut in the case of Facebook it’s the same ultra-profitable business it was two years ago, and it has also increased its R&D efforts to find the next growth spurt. You’ve seen other highly popular businesses — for example, Beyond Meat — get smashed. Butbusiness that is making profits and a business that isn’t, aren’t to be traded in the same way.

We can draw comparisons for tech companies that were left for dead — think of Apple, in 2016. Then Apple was trading on a p:e of less than 8, like a beaten-down oil stock. But you couldn’t compare Apple to an oil stock: there was no slowdown in demand for any of their gadgets. A slowdown in growth is not negative growth. You fast-forward a few years and you’ve enjoyed five times returns and a fat dividend in between.

I wouldn't call Vestact the 'Smart Money'

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