All posts in category: Bubble (2)

The Days of Future Past

Wednesday, November 1st, 2017

China Tech is growing a bubble

We are not concerned about the Tech sector in the US. We are concerned about it everywhere, particularly in China. There are obvious parallels between the behaviour of the Chinese Technology sector now and the US in the run-up to the dot-com bubble. Valuation tends not to be helpful in these circumstances, but Harlyn’s approach, based on return per unit of risk, can be.

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Bubble Territory: Official

Wednesday, May 31st, 2017

Worry about Chinese – not US – Tech

According to our metrics, the US Tech sector entered bubble territory two weeks ago. The only times it has had a higher score were in 1999 and 2000. But Tech bubbles can deflate gently, as was the case after September 2014. We are actually more concerned about the frenetic switch out of US Value into US Growth, and the runaway performance of the Chinese Tech sector over the last five years.

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