Stocks like Microsoft, Meta and Netflix have been strong winners in our portfolios (although we've had different exposures to them at different times). These stocks are great case studies to deal with two important questions.

The first relates to letting winners run. How do we think about having long-term vs. tactical positions and potentially trimming them over time?

The second relates to winners in a different context, being stocks in sectors with winner-takes-all or winners-take-most economics. Does this change the way we think about them over time?

As always, this podcast is a way to share our ideas with listeners and drive debate. It is for informational purposes only and should not be treated as financial advice.