[psychstudio]

At least, valuation-wise, I agree. We've been on a ridiculous, risk-on market rally for a decade and a half, fuelled by incredibly cheap money and plenty of discretionary excess, and tech stocks have been the vehicle for speculative trading. My money is on energy and associated mining sectors outperforming in the next market cycle. I think we're about to see the return of Peter Lynch style investing after the washout of excess from tech.

[SkipperCat]

I do not disagree, but I do think there is still room for growth with established tech such as semiconductors and maybe cloud. There's so many thing still "old school" in this world and I see tech advancing more and more into those sectors. But I'm guessing it will be a very saw-tooth pattern for the next few years.

What I am avoiding like the plague are companies that have no profits, no dividends and no real innovation. Any company that is still aiming for growth before profits is just scary.