Next stock market crash: Bubble in tech, value to burst, JPMorgan says - Business Insider

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'This bubble will likely collapse': JPMorgan sounds the alarm on a hugely popular trade that's twice as overstretched as it was before the dot-com crash

, JPMorgan's global head of macro, quantitative, and derivatives strategy, who expected that the shift to value would persist into Q1 2020.

He had identified a gulf between value's lag on one hand, and the outperformance of factors including momentum — which lifted many fast-growing technology stocks — and low volatility. Kolanovic even called the expected convergence between these factors a "But the gap has only gotten wider since last July and is now twice as large as it was during the dot-com boom. Value is still out of favor, while low-volatility and momentum-driven technology stocks are all the rage.

"We caution investors that this bubble will likely collapse, i.e. this time is not 'different', with valuations reverting closer to 2010-2020 average," Kolanovic said in a recent note to clients. Kolanovic went further than declaring an "equity factor bubble" to explain what is behind its expansion.

 

ขอบคุณสำหรับความคิดเห็นของคุณ ความคิดเห็นของคุณจะถูกเผยแพร่หลังจากได้รับการตรวจสอบแล้ว

Nice paywall. I won’t subscribe to anything now that anonymous micro payments are possible using crypto currency. Get caught up on technology BI and open the door to a whole new readership.

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In the time that I've been 'in the market' as an every day American investor, I have seen bubbles build & pop. Lost a few 100g's in the tech🎈& learned the hard way. Bubbles will build again! Bubbles will blow again! Lil ole can tell u, the pin is about to meet the rubber. BOOM!

เราได้สรุปข่าวนี้มาให้อ่านอย่างรวดเร็ว หากสนใจข่าว สามารถอ่านฉบับเต็มได้ที่นี่ อ่านเพิ่มเติม:

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