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Billionaire investor Howard Marks breaks down the 'exceptional' performance of Big Tech this year a?? and explains why being bullish on FAAMG has 'obvious merit'

Billionaire investor Howard Marks breaks down the 'exceptional' performance of Big Tech this year a?? and explains why being bullish on FAAMG has 'obvious merit'
Bloomberg TV



Howard Marks broke down the bull argument for market-leading technology stocks in his latest memo, and said there is "obvious merit" in their dominance.




The Oaktree Capital's co-founder criticized tech skeptics who underestimate the ability of tech leaders, and said "to be bearish, one has to have a thesis on why they should fall."




Market-leading tech companies such as the FAAMG stocks (Facebook, Amazon, Apple, Microsoft, and Google) are up 36% this year, and can expect to go a long way, as the COVID-19 crisis has led to a digital transition, he said.




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Howard Marks broke down what is behind the stock market's recent rally in his latest published memo.
The S&P 500 was up 50% from its March lows on Friday, driven by overall investor optimism surrounding economic stimulus and the prospect of the development of a successful COVID-19 vaccine.
Technology stocks have outperformed this year, even with the economic meltdown and rebound. The Nasdaq has soared to all-time highs, driven by record peaks in the share price of companies such as Facebook, Amazon, Apple, Netflix, Google, and Microsoft.
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