‘We will resist the temptation to fish for the bottom’: 42-year-old market veteran says market-dominating tech stocks are still overvalued – and their impending demise will drive the rest of the market further down
Tech stock valuations are still too stretched, says Bill Smead. Their decline will drag the rest of the market down as well, he believes. Smead said the bear market is probably only halfway through. The most beloved names in the market over the past decade — so-called FAANMG stocks (or some iteration of that acronym) …