《Why We're Hedging AppLovin's 80% Margins》
建仓 Unity Software 作为互补性对冲，理由是营收与利润率加速、自由现金流强劲，以及 AI 飞轮的潜力。
Unity Software。距离我们上次谈论 Unity Software 已经过去大约一年了。
Unity Software. It's been about a year since we talked about Unity Software.
我们再谈谈哪些地方可能出问题，我认为我们会在 Unity Software 上再次建仓。距离我们上次覆盖它已经过去一年半了，但我们还是用我们的一些工具来过一遍吧。
Let's talk about more what could go wrong, and I think we're gonna take a position again in Unity Software. It's been a year and a half since we covered it, but let's just run this through some of our tools.