FANG Falters As Best-Performing Tech Fund Manager Warns "When Things Are This Elevated, It's Best To Be Cautious"

Tyler Durden's picture

Joshua K. Spencer has managed his T. Rowe Price Global Technology Fund to become the best-performing mutual fund in the past five years with big bets on Amazon and Tesla is now selling some big winners... and it's sending FANTASY stocks lower...

FANG stocks are rolling over...

 

And FANTASIA (Facebook, Amazon, Netflix, Tesla, Alphabet, SalesForce, Intel, and Apple) stocks are falling back from their 50% retracement...

But as MarketWatch notes, the fund manager is careful to hedge, pointing out that the decision to sell a company’s shares doesn’t mean Spencer has soured on the business or strategy. In fact, he expressed great confidence in Tesla’s long-term success.

“When sentiment lifts, that is when we usually take money off the table. That is hard to do. It feels bad to sell when stocks do well,” Spencer said.

 

“I have learned from experience that it is difficult to predict what will drive a stock down, but when things are elevated, it is best to be cautious,” Spencer said.

 

Over the past two months, he has been holding more cash than before as he reduces or eliminates positions in “more extreme winners.”

Additionally, Morgan Stanley sees more downside, but is also careful to hedge that eventually you buy the dip...

The sharp sell-off in Technology stocks on June 9th saw some follow through last week with a rotation toward some of the most unfavored areas of the market, including Energy. 

 

We think this could continue for a few more days/weeks but will not lead to a serious decline in Technology stocks or the broader market given a strong earnings backdrop, low interest rates and loose financial conditions.

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Jim Sampson's picture

PUT HIM IN JAIL!!!

Jim Sampson's picture

Tough crowd...  It's those damn summer fucks...  Why do I need a /s on this site?

Dumpster Elite's picture

The Summerfucks? Do you mean the Summerfucks from the Hamptons, way back in '03?

Raffie's picture

Set your asses to 'PUCKER'

Iconoclast421's picture

What kind of crack is this? These stocks are still at or very very near all time highs. The only thing "rolling over" is the analysis these days.

Crypto-World-Order's picture

Algos can never stop buying at this point. All major dips will be bought with severe punishment.

Juggernaut x2's picture

I always wondered where Corky from "Life Goes On" ended up

HominyTwin's picture

What a fool! He is talking these stocks down so he can buy more. They may never get back up, dipshit!

DavidC's picture

Do you mean rolling over as in NASDAQ UP about 1 1/4 % today? Yeah, right.

DavidC

small axe's picture

Wow, a regular rocket scientist. Knock me over with a feather.

order66's picture

Anyone ever looked at stocks using GAAP?

Does anyone even remember GAAP?

EPS cut in half or greater across the board.

Squid Viscous's picture

with a face like that, it helps to be rich

The Binary Man's picture

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Squid Viscous's picture

yes Jerry help me, I don't want to loose any more!

fucking idiot

Skeptophrenic's picture

"When things are this elevated, it's best to be cautious".

What a fucking idiotic statement.

Gordon_Gekko's picture

Die FANG, DIE!

And take this Joshua MORON with you

Gordon_Gekko's picture

Central Bankers starting the Gold/Silver SALE again. Crush them further cartel boys. C'mon...a measly 55 bucks down in almost 2 weeks is the best you can do? There used to be a time (when you still had dicks, balls, etc.) when you pushed these things down hundreds of dollars in a fucking DAY. I DEMAND a motherfucking MASSIVE sale NOW! Do you have it in you?

ali-ali-al-qomfri's picture

P&G

Yum

Toyota

Home Depot

Oracle

Novartis

 

less fang, more constriction.