Coatue up just 12% YTD, lagging SMH by 82 points — is AI overrated for investing?
masayoshisson · x · 2026-10-03
An investor spat over AI-era performance: masayoshisson posted that Coatue is +12% YTD, underperforming QQQ by 45 points and SMH by 82 points. His question: how does Philippe Laffont, with essentially unlimited resources (over $1.5bn in annual management fees alone), lag that badly? Either AI isn't that great for investing, or information asymmetries have been arbitraged away.
Gavin Baker responded that he has seen a tear sheet of a Coatue product with much higher numbers this year, noting large firms run multiple strategies.
Related event: Coatue's 12% Return Sparks Debate on AI Trade(2 posts)→
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