Sign up today for an exclusive discount along with our 30-day GUARANTEE — Love us or leave, with your money back! Click here to become a part of our growing community and learn how to stop gambling with your investments. We will teach you to BE THE HOUSE — Not the Gambler!

Click here to see some testimonials from our members!

FANG Falters As Best-Performing Tech Fund Manager Warns “When Things Are This Elevated, It’s Best To Be Cautious”

Courtesy of ZeroHedge. View original post here.

Joshua K. Spencer has managed his T. Rowe Price Global Technology Fund to become the best-performing mutual fund in the past five years with big bets on Amazon and Tesla is now selling some big winners… and it’s sending FANTASY stocks lower

FANG stocks are rolling over…

And FANTASIA (Facebook, Amazon, Netflix, Tesla, Alphabet, SalesForce, Intel, and Apple) stocks are falling back from their 50% retracement…

But as MarketWatch notes, the fund manager is careful to hedge, pointing out that the decision to sell a company’s shares doesn’t mean Spencer has soured on the business or strategy. In fact, he expressed great confidence in Tesla’s long-term success.

“When sentiment lifts, that is when we usually take money off the table. That is hard to do. It feels bad to sell when stocks do well,” Spencer said.

“I have learned from experience that it is difficult to predict what will drive a stock down, but when things are elevated, it is best to be cautious,” Spencer said.

Over the past two months, he has been holding more cash than before as he reduces or eliminates positions in “more extreme winners.”

Additionally, Morgan Stanley sees more downside, but is also careful to hedge that eventually you buy the dip…

The sharp sell-off in Technology stocks on June 9th saw some follow through last week with a rotation toward some of the most unfavored areas of the market, including Energy. 

We think this could continue for a few more days/weeks but will not lead to a serious decline in Technology stocks or the broader market given a strong earnings backdrop, low interest rates and loose financial conditions.


Do you know someone who would benefit from this information? We can send your friend a strictly confidential, one-time email telling them about this information. Your privacy and your friend's privacy is your business... no spam! Click here and tell a friend!





You must be logged in to make a comment.
You can sign up for a membership or get a FREE Daily News membership or log in

Sign up today for an exclusive discount along with our 30-day GUARANTEE — Love us or leave, with your money back! Click here to become a part of our growing community and learn how to stop gambling with your investments. We will teach you to BE THE HOUSE — Not the Gambler!

Click here to see some testimonials from our members!