Tech Insiders Are Selling: Time to Sell Tech?
Tech and commodities have an inverse correlation for now.
What do Peter Thiel, Jeff Bezos and Mark Zuckerberg have in common? Well, two things — one, they are billionaires.
Two, they were all selling tech shares as of two weeks ago. Hundreds of millions of dollars worth. They’re not the only tech insiders to do so.
Here’s a chart as food for thought.
Why do tech and commodities sometimes have an inverse relationship?
Higher commodity prices, like oil, cause a spike in US inflation, which delays Fed rate cuts. Rate cuts are growth-positive, for tech stocks.
Goldman Sachs Asset Management (GSAM) is also taking profit on tech and rotating into undervalued sectors in their portfolio.