By Edward Bonham Carter, CIO of Jupiter Asset Management and manager of the Jupiter Undervalued Asse...
By Edward Bonham Carter, CIO of Jupiter Asset Management and manager of the Jupiter Undervalued Assets That an economic and financial hangover still hurts after three years gives some indication of what a swell tech party that was. Not only was the punchbowl not removed but, in a Y2K liquidity surge, it was topped up with 100% proof Old Alan. During the millennial period, it was excess investment funded by 'free' money that led to an excess of supply. Such overcapacity was typified by too many new businesses all assuming 100% market share. That's the trouble with free booze, it eng...
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