CNBC: "Buffett cut Apple, Baron trimmed Tesla: Billionaire market lessons on tech and growth stock selling"

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CNBC: "Buffett cut Apple, Baron trimmed Tesla: Billionaire market lessons on tech and growth stock selling"

Excerpt from CNBC quoting DataTrek’s Nick Colas:

….”Nick Colas, co-founder of DataTrek Research, recently surveyed several hundred investors including institutions, registered investments advisors and high-net-worth individuals, and found no concern about a systemic risk to the market, but one-third of investors do believe U.S. large-cap stocks may see more pressure based on asset values.

This is not another tech bubble, in his view, but there has been such an elevated amount of capital into technology stocks that there is reason to worry more money will “rotate out violently, and quickly.”

He looks at some of the cyclical plays, some already back above pre-pandemic levels and five-year levels, financials as an example. “I think we see lots more rotation. You can’t just be in Tesla anymore. You can’t be in speculative tech names anymore. That money is leaving and looking for more real world leverage,” as the Covid reopening accelerates, he says”….

Read the full article here on CNBC!