Dot-com veteran Paul Meeks who has been saying for months now that tech was getting very frothy thinks that the coronavirus impact on the economy and tech in particular is going to be significant, and that a bear market in tech is on the table. CNBC:
Coronavirus could spark a 20% tech pullback, investor Paul Meeks warns
Investor Paul Meeks is bracing for a bear market in technology.
Meeks, who’s known for running the world’s largest tech fund during the dot-com boom, sees 20% pullback risks growing as the coronavirus outbreak spreads.
“There is some comeuppance due, and unfortunately I think the coronavirus is that exogenous variable that is a catalyst to take some of these stocks down,” the portfolio manager at Independent Solutions Wealth Management told CNBC’s “Trading Nation” on Friday…
Meeks, who has been avoiding the space, suggests Friday’s activity may be the tip of the iceberg […]