A very thoughtful post as always. Your focus on mean reversion plays has opened my eyes to them, thanks for that!
Thoughts on Nasdaq collapse: It seems that we are in the last leg of the Nasdaq collapse, when share prices of good cos with free cashflows are getting hit.
In every market collapse, the first leg of downturn starts from junk cos, as was the case with ARKK ETF peaking out in Feb 2021. The collapse then trickles down to reasonable cos with slightly shaky business models (likes of Dropbox, Uber). The final leg is when the blue chips (or so called generals in folk literature) start getting hit (likes of Google, Microsoft, etc.).
Going by past NASDAQ crashes in 2000 and 2008, this leg seems to have some ways to go before it bottoms. This maybe the start of the last leg (Where the generals start getting shot), but we may be some ways away from the end of the last leg?
Of course standard disclaimers regarding history not repeating itself applies here.
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