by Tyler Durden
Sunday, Jul 18, 2021 - 10:30 PM
The world s financial graveyards are covered with the career tombstones of those who, over the past decade, have called the end to a tech bubble that not only has yet to pop but has culminated with just 5 tech names - the FAAMGs - comprising 23% of the S&P s market cap vastly surpassing the lofty dot com days, with a combined valuation of over $7 trillion.
Among those who were steamrolled by the tech juggernaut is Ned David Research, traditionally known for its accurate market timing calls if certainly not this time: two months ago it slapped a sell reco on tech right before it ripped the bears faces off and embarked on a 14% rally. And then, just as the FAAMGs fell out of bed late last week, the firm’s strategists pulled a Gartman, and abandoned their underweight stance, expecting that the rotation out of reflation and into growth, coupled with a plunge in yields, will lead to more tech buying when we may well be facing the first
Hedge Fund and Insider Trading News: Russell Clark, Jason Karp, Viking Global Investors, Elliott Management, Mudrick Capital Management, UMH Properties, Inc (UMH), Titan Machinery Inc. (TITN), and More
Elliott Management Corp. has taken a sizable stake in software company Dropbox Inc., the latest target for the activist hedge fund, according to people familiar with the matter. Elliott has told Dropbox it is the company’s largest shareholder after Chief Executive Officer Drew Houston, the people said. That suggests the hedge fund owns a stake of more than 10%, worth well over $800 million. The two sides have been in talks since earlier this year.
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Food Inflation Is The Best Predictor Of Bond Yields zerohedge.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from zerohedge.com Daily Mail and Mail on Sunday newspapers.