Cresset Capital Management CIO Jack Ablin lays out the three trading strategies he expects other money managers to use as Lyft hits the market.
In a recent interview, he told Business Insider that while he and his colleagues are certainly interested in Lyft — and the entire ride-hailing industry as a whole — he's playing the waiting game, and will strike when opportunity presents itself.Lyft's bankers are trying to compare the ride-hailing app to Grubhub and luxury retailer Farfetch — here's their pitch to investors
Ablin went further to break down the different ways he expects other fund managers to play the IPO. Below are the three main investing strategies he expects to play out over the coming weeks and months. Note that they all involve1) Buy both Lyft and Uber as a play on the whole industry He recalls investors seeking exposure to the entire social-media space around the time Facebook went public. Not all of the companies that tested the market during that era ended up thriving, but that didn't matter much to the portfolios that also owned Facebook. Following a rocky start, the stock ended up being a top performer.
"They'd do that if they perceive the Uber is the better bet, and they want the leader," Ablin said."There are probably some investors that will want to do that."
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