Gavin Baker responds to Coatue underperformance: large firms run multiple strategies
GavinSBaker · x · 2026-10-03
An investor debate over Coatue's AI-era performance: masayoshisson noted Coatue is +12% YTD, badly lagging QQQ (+45%) and SMH (+82%), questioning how Philippe Laffont — with over $1.5bn in annual management fees — underperforms by that much, concluding either AI isn't that great for investing or information asymmetries have been arbitraged away.
Veteran investor Gavin Baker pushed back, saying he has seen a tear sheet of a Coatue product with much higher numbers this year, and that large firms run multiple strategies so one product's numbers don't tell the full story.
Related event: Coatue's 12% Return Sparks Debate on AI Trade(2 posts)→
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