A bubble has burst for emerging tech stocks, but that doesn’t mean its safe or smart to go long those names right now, warned billionaire investor Ray Dalio.
At the time, the overall U.S. stock market was at the “edge” of a bubble, in other words, 70% of the way toward the highest bubble, which happened in late 1990s and late 1920s, Dalio noted in a LinkedIn post on Monday.
That doesn’t mean all is well. Emerging tech stocks “no longer appear to be in a bubble, but neither do they appear to have substantially swung to the opposite extreme, so it’s not necessarily true that now is a good time to buy them,” he wrote.
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Or bubbles can pop, asset repricing reverting to historical valuations almost instantly