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Sequoia on the Case for Google

Google's value to users and advertisers, strong cash-flow generation, and current valuation are attractive, says Sequoia's David Poppe. Plus, Poppe outlines the case for newer fund holding Perrigo.

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Mike Breen: You bought a stock, I believe in the last year, Google, which wouldn't fall into most typical value screens. It's a well-known company and actually not that expensive. Maybe you can talk about the small position you took in Google.

David Poppe: We are not technology investors, and so it is kind of out of the ordinary for us. It was a big leap into the unknown; but the more we looked at Google, we had some familiarity with the advertising business and marketing businesses, and the more we looked at it, the more it looked to us like a marketing business more than a technology business.

Michael Breen does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.