Big Tech alternatives include commodities, says strategist

News Highlights: Big Tech alternatives include commodities, says strategist

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 on technology stocks in the S&P 500 index is “dysfunctional.” According to data from Reuters, Apple, Amazon and Microsoft were responsible for half of the S&P 500’s rise in 2021.

“You can’t just keep buying electrons, you can’t keep buying people pumping information and / or making their money with the services you can use online,” added Corrigan, referring to FAANG stock (Facebook, Amazon, Apple, Netflix and Alphabet).

Cantillon has been recommending other types of “ real ” assets for several months, Corrigan added in a follow-up conversation.

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