By Alex Gluyas
Publication Date: 2026-05-26 03:46:00
Earlier this year, Doug Tynan, GCQ’s well-known investment chief, quickly sold his stakes in luxury goods companies Louis Vuitton, Richemont and Hermes to finance a $200 million bet on software stocks that had been sold over fears that artificial intelligence would destroy their businesses.
At the time, luxury stocks were facing an investor flight to safety as the so-called SaaSpocalypse swept global markets. But the sector has recently been hit by the Iran war, as skyrocketing oil prices hit consumer spending.
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