It’s a technology bubble but not as we know it

It's a technology bubble but not as we know it By Adam Patterson Are tech valuations supported by fundamentals or are we partying like it's 1999? 16 years since the bursting of the dot.com bubble, when the Nasdaq Composite Index fell 37% in the 10 weeks following its peak on March 10, 2000, the continued stellar performance of tech stocks and startups is once again raising eyebrows in some quarters. Calling asset bubbles is like Paul Samuelson's oft cited joke about markets predicting nine out of the last five recessions. In other words, it's easy to do but harder to identify in real time. Sometimes only hindsight gives us a clear view of past events. Bubbles are also relative. Markets are made by differences of opinion after all. Caveats aside, there has been extensive recent discourse on internet and technology stocks being or not being (that is the question!) in bubble territory. So, are valuations out of step with reality? Let's start by looking at the Nasdaq (IXIC), the traditional home for tech stocks… Click Here To Read The Full Story The Master Investor Market Report The FTSE 100 closed the day at 6,977.74, a decrease of 46.27 points. The FTSE 250 fell 79.17 points to finish at 17,877.11. The FTSE All Share dropped 24.07 points to finish at 3,789.92. The FTSE AIM All Share ended the day at 825.24, down by 1.48 points. Consumer goods giant Unilever (ULVR) said that underlying sales have grown by 4.2% during the first nine months of 2016 with growth in both volumes and profits. However, actual turnover fell by 1.8% over the same period due to changes in exchange rates. Latin American markets were hit particularly hard as currency devaluations had substantial effects on disposable incomes. The shares dropped by 3.41% to 3,596.50p. Check out our brand-new October issue! Click HERE to read. Financial services provider Hargreaves Lansdown (HL.) held a record £67.6 billion of assets under management at the end of September and booked net revenues of £90.6 million for the quarter. New business inflows were £11.1 billion, which is 22% below the equivalent period of last year. Hargreaves Lansdown shares fell by 37p to 1,200p. High street retailer WH Smiths (SMWH) earned profits before taxation of £131 million for the year ended 31st August, an 8% improvement over the prior 12 months. The improvement continues to be driven by the company's travel outlets as its more traditional offerings suffer. Profits before taxation climbed by 7% to £132 million. Shares in WH Smith rose by 7p to 1,532p. Tomorrow's news today Provident Financial (PFG) will publish an interim management statement. Quote of the day "Nothing is more obstinate than a fashionable consensus." - Margaret Thatcher Latest Stories Tip TV Master Investor Show By Master Investor On the first episode of a new show, Master Investor CEO Swen Lorenz discusses inflation, bonds and Donald Trump …     Click Here To Watch The Video London Capital: Bullish falling wedge points to 8p By Zak Mir With over 25 years of direct experience of brokers/spreadbetting companies, the big takeaway I have is that it requires a great deal of effort to fail in this space… Click Here To Read The Full Story How to invest in the nuclear future By Victor Hill With the go-ahead for the Hinkley Point C nuclear reactor, announced on 14 September, the nuclear power industry is back in the news in the UK. Nuclear power generation is a massive global industry which currently uses a number of related technologies... Click Here To Read The Full Story Marmitegate: I cannot see why Unilever must sell to Tesco By Evil Knievil I may be missing something but I cannot for the life of me begin to see why Unilever (LON:ULVR) must sell to Tesco (LON:TSCO) at a price determined by Tesco.… Click Here To Read The Full Story Avanti Communications (AVN): Extended base could lead to 50p By Zak Mir Avanti Communications has been making some positive technical noises. That said, going for the underdog in a small-cap situation is not usually the way to go in this space… Click Here To Read The Full Story Join the movement on social media: Copyright 2016 Master Investor Ltd, All rights reserved. You are receiving this email because you opted in at our website. If a Daily Bulletin is too frequent, why not opt in to our once weekly mailing list for a round up of the week's news straight to your inbox. Once Weekly Round-Up Our mailing address is: Suite 88, 22 Notting Hill Gate, London W11 3JE Master Investor is a trading name of Master Investor Limited. Material contained within Master Investor Magazine and its website is for general information purposes only and is not intended to be relied upon by individual readers in making (or refraining from making) any specific investment decisions. Master Investor Ltd does not accept any liability for any losses suffered by any user as a result of any such decision.

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