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☆ A renowned market bear who called the dot-com bubble warns concentration in tech stocks now exceeds levels seen just before the 2000 crash — and cautions that the sector's earnings are not keeping up
▼ + stars: | 2024-02-17 | by ( William Edwards | ) www.businessinsider.com time to read: +5 min

For example, the tech sector’s valuations are generally lower than they were then, though still elevated. One is that the fundamentals of the tech sector are detached from its price action. While the sector’s earnings have performed better than the rest of the market on average, earnings expectations have been rising faster than actual subsequent earnings performance. Many parallels between the dot-com bubble and today’s market have been called to light in recent weeks. Only time will tell if tech stocks are in a bubble that's due to burst.

Persons: Albert Edwards, “, ” Edwards, Edwards, Michael Hartnett, Jeffrey Schulze, Adam Karr, ”, Quincy Krosby, Hartnett Organizations: Societe Generale, Nasdaq, Business, Generale, Bank of America, Orbis Investment Management, Artificial Intelligence, LPL Financial Locations: Japan

☆ 'You are now living through Tech Bubble 2.0': A 32-year market vet warns stocks are doomed to suffer substantial losses with valuations at historic highs and the economy on the verge of recession
▼ + stars: | 2024-01-27 | by ( William Edwards | ) www.businessinsider.com time to read: +7 min

"For those of you younger than us who did not live through the Tech Bubble of the late 1990s, you are now living through Tech Bubble 2.0. As a reminder, the NASDAQ fell about 80% when that bubble burst in the mild recession of the early 2000s," Wolfenbarger said. AdvertisementThere is evidence that backs up Wolfenbarger's bubble claims, starting with fairly standard valuation measures like the Shiller cyclically-adjusted price-to-earnings ratio. While it's not as high as it was during the dot-com bubble, it's higher than it was in 1929 — and is at one of its most elevated levels in history. Bank of AmericaAs for what will finally deflate the bubble, Wolfenbarger is expecting a recession to hit the US economy.

Persons: —, Microsoft —, Jon Wolfenbarger, Merrill Lynch, Wolfenbarger, it's, America's Michael Hartnett, Louis Fed Wolfenbarger, Jeremy Grantham, Adam Karr, Orbis Investment Management Karr, It's Organizations: Service, Apple, Nvidia, Microsoft, Business, JPMorgan, ClearBridge, Tech, NASDAQ, ClearBridge Investments Bank, America's, Bank of America, Bank of America's Global, Institute for Supply Management's Manufacturing, Orbis Investment Management, Global Fund, Federal Reserve Locations: Japan

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