Big Tech alternatives include commodities says strategist

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A market strategist has advised investors to stop buying tech stocks and invest in certain commodities instead.

Sean Corrigan, director of Cantillon Consulting, told CNBC’s “Squawk Box Europe” last month that the concentration toward tech stocks in the S&P 500 index is “dysfunctional.” Apple, Amazon and Microsoft accounted for half the S&P 500’s rise during 2021, according to Reuters data.

“You can’t just keep buying electrons, you can’t keep buying people who pump around information, and/or make their money out of the services you can use online,” Corrigan added, referring to FAANG stocks (Facebook, Amazon, Apple, Netflix and Alphabet).

Cantillon has been recommending other types of “real world” assets for a number of months, Corrigan added in a follow-up phone call.

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