Ditch surging Big Tech stocks, pivot to value: The Wealth Alliance CEO

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Ditch surging Big Tech stocks and pivot to value instead, The Wealth Alliance CEO says

"Chasing anything rising at those type of growth rates is a problem," Conzo added."So where do you put money to work? You put money to work where it's not doing all that well – like value."

Several strategists have expressed a similar viewpoint to Conzo on Tesla's stock, which has been surging non-stop for months, withIt's"time to again, rebalance," Conzo said."Take some profits off the table on growth – get it to value." Value investors seek out stocks that they believe are underpriced, whereas growth investors look to snap up shares from companies in rapidly-expanding sectors like tech.

The first of those trading strategies beat the market in 2022, with tech and other growth stocks plummeting as the Federal Reserve ramped up its interest-rate hiking campaign. But growth names have roared back this year, a combination of the expectation that the Fed will soon slash interest rates and a massive surge of interest in ChatGPT and artificial intelligence tech.

 

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