FILE PHOTO: Traders wear masks as they work on the floor of the New York Stock Exchange as the outbreak of the coronavirus disease continues in the Manhattan borough of New York, U.S., May 28, 2020. REUTERS/Lucas Jackson
Growth names have been hit by higher bond yields while assets like bitcoin that have bubbled up have also pulled back.Wood’s fund also owns a number of internet, social media and technology names, such as Twitter and Snap. “I do worry that funds like ARK could be forced to sell, devastating certain stocks where they are a big holder,” said Rob Romero, portfolio manager at Connective Capital, based in California.
David Greenwald, associate portfolio manager at Toronto-based Waratah Capital Advisors, said his firm has been “broadly cautious” of high-momentum technology stocks given the rapid increase in Treasury yields year-to-date. Andy Pauly, managing partner at Warwick Investment Management, said “rapidly growing companies that are being priced on cash flows 10-20 years in the future are vulnerable to rising yields.”
Translation: Hedge funds poised to tank economy.
Hedge Funds lol
Tesla bubble
I am recently in your country, looking for new friends