The best tech investor I know is buying tech right now…
The best tech trader I know is probably the one and only Jay Somaney of TSG Capital Partners who writes at WallStreetAllStars.com. Yesterday, he wrote an article called, “Adding To Techland Holdings” and I about fell out of my chair when I saw the headline and read the article in which he writes such things as:
“I think techs will report outstanding numbers for Q3:11 in the next month or so. I have added to several positions in that area including Amazon and Priceline.”
I about fell out of my chair because I don’t know much of anyone who’s buying tech right now. Do you?
Indeed, just after seeing his article I was stopped yesterday in the grocery store by someone who wants to talk stocks. He asked me, “So, Cody, what are you buying these days?”
I explained to him in a quick elevator-pitch kind of tone that we’re seeing some historical growth trends and marketplaces created in the smartphone/app/tablet revolutions and that I’m long a lot of tech in that space.
“Names, Cody, names,” he prodded. So I answered with a quick list off of some of my longs like Cypress, Google and Apple. Or Intel and the more speculative Level 3.
“Really? Tech? Tech is for idiots in this market,” he said, explaining, “alternative energy and some speculation in the Iraqi dinar is what you should be looking at, Cody.”
So I’m wondering, is there anybody else out there who’s out and out bullish on tech? Most people I know tell me one of two things when I mention tech as a good place to invest: “Tech’s in a bubble.” Or “Yawn.” You guys tell me. Is tech in a bubble, is it an afterthought or is it the place to be?
