We’re in another Tech Craze, similar to the one in 2000, by the look of things
The last two years have seen a number of high profile Tech IPOs for businesses that are barely profitable or have never turned a profit. Indeed, of the tech firms that went public in 2013 so far, 73% have never turned a profit (compare that to just 27% of the tech IPOs that were unprofitable in 1999).
However, this is not to say that this Fed intervention is not creating tremendous opportunities for stock pickers. After all with the Fed juicing stocks to this degree, there is no shortage of mis-pricings in high quality companies.
To take out an annual subscription to Cigar Butts & Moats…
Best Regards
Phoenix Capital Research
