Institutional Investor hall of famer Rich Bernstein believes too many investors believe tech stocks are invincible.
Institutional Investor hall of famer Richard Bernstein believes too many tech investors are getting dangerously caught up in what could turn into another dot-com bust.
"We're at a point in the technology cycle where investors are starting to become pure momentum investors," the CEO of Richard Bernstein Advisors said Wednesday on CNBC's"Trading Nation.""You have this notion where people believe that tech is no longer cyclical. It's something new. It's something different. And, that's sounding a bit like March 2000.
Bernstein, a CNBC contributor and long-time bull, isn't concerned about runaway valuations creating another epic crash in the tech sector. Rather, he's worried investors are setting themselves up for disappointment by using a flawed way of thinking as an earnings slowdown grips Wall Street.
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