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Sydnee Gatewood
Sydnee Gatewood
Articles (3566) 

David Herro and Bill Nygren Comment on Alibaba

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January 11, 2021 | About:
Alibaba Group (NYSE:BABA), a China-based internet and direct marketing retailer, was a large detractor in the fourth quarter. The company faced regulatory headwinds during the quarter due to China's new anti-monopoly law as well as the suspension of the highly anticipated initial public offering of Ant Group, wherein Alibaba holds an approximately one-third ownership stake. The increased regulations on both Alibaba and Ant are still in the consultation phase and have not yet been finalized. While we find it difficult to accurately quantify these risks, we believe it is likely Alibaba will face greater regulatory scrutiny and slower growth going forward. However, the company remains an important driver of innovation in China and even with its slower growth, we believe its valuation is compelling. In the meantime, we continue to monitor this fluid situation.

From David Herro (Trades, Portfolio) and Bill Nygren (Trades, Portfolio)'s Oakmark Global Select Fund fourth-quarter 2020 commentary.


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