Very interesting thanks. I follow points 1 and 2. But on point 3, I thought according to Howell and what you’ve said previously we were late cycle and so to stay clear of tech stocks (and wait for QE / insiders)?
The problem with late cycle and central banking is that when the injections come - and liquidity expands, the High Beta gets the bump due to the leverage and passive flows.
Very interesting thanks. I follow points 1 and 2. But on point 3, I thought according to Howell and what you’ve said previously we were late cycle and so to stay clear of tech stocks (and wait for QE / insiders)?
The problem with late cycle and central banking is that when the injections come - and liquidity expands, the High Beta gets the bump due to the leverage and passive flows.