CJ Update – July 31, 2020
Consolidation of Growth Stocks Looming We see the recent consolidation of large-cap tech stocks as the beginning of the shift of investor capital from growth to select value sectors that we commented upon last week. The pendulum won’t swing from growth to value overnight. It will occur in fits and starts as rationality returns to valuations and news of the virus charts a course for the economy. Financial performance of the market leaders will be revealed in the current and…