, and others amid stay-at-home orders over recent months have sent valuations soaring. The Nasdaq — the more tech-heavy US stock exchange — is also at all-time highs.
Historically high levels of demand can create asset bubbles, however, with investors bidding up share prices beyond values justified by a company's fundamentals. And those bubbles eventually burst, sending stocks plummeting. That could end up being the case in US tech. A whopping 71% of the fund managers surveyed said they think the market — which is largely being driven by tech stocks — is overvalued.Nearly 200 fund managers who collectively manage $570 billion in assets responded to Bank of America's global survey. Most investors — 72% — were confident that strong global growth would help the economy recover from the coronavirus crisis.
For protection against a collapse — or for those interested in betting against current market trends — Bank of America's Michael Hartnett recommends three contrarian trades., "given positioning and stretched performance." , which some experts are expecting by the end of the year, could hurt tech valuations. Hartnett said a vaccine is "the catalyst" for lowering the demand for long-tech positions., with "oil prices acting well given whisper of higher OPEC supply.
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Go tech!
Weren’t they demand in year 2000 ?
Reminds me of the year 2000.
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