This debate is obviously crucial for the market going forward. Everyone is acutely aware of how important it is for tech high-fliers to avoid an Icarus moment until we finally see the fabled “rotation” back into value or, more simply, until another sector proves it’s capable of taking the baton in this aging bull market.
Are the regulatory demons real?
“I think the really interesting thing is it shows sort of the kind of fairyland that FANGs have been operating in.”
Tuesday was another day that had a distinctly circus-like character to it…
In essence, the same things everyone was watching last week (e.g. tech, trade, Trump) will be in focus again…
It was only fitting that the quarter should close in dramatic fashion for U.S. equities.
It should be fine. Really.
“…to all you Marty McFlys out there”…
I don’t know where you’re supposed to turn for “analysis” from here.
The new edition of BofAML’s Global Fund Manager survey is out, which means we get a fresh look at what folks told Michael Hartnett about the “most crowded trades”.
In terms of news flow on Tuesday, everything took a backseat to Facebook and the worsening Cambridge Analytica scandal, which is spiraling rapidly out of control.
Whether that’s a good or bad thing for society is an open question and largely depends on how regulatory action is justified and who it is that’s doing the regulating.
I’ll tell you what, if this Facebook debacle continues to spiral out of control, it’s going to be interesting to read some of the fund letters…