10-23-2018, 01:25 PM
“We don’t think the correction is done yet. We think attempts to rebound were more short lived than sustainable. Recent price declines in crowded growth, tech, and discretionary have caused enough portfolio pain that we think most investors are playing with weak hands,” he said. Growth names, a favorite among investors until recently, have come under increasing pressure as the market’s focus shifted to value stocks, while the tech sector, which had outperformed other industries this year, is also beating a hasty retreat.