Banking crisis, what crisis?
The banking crisis of 2023 shows a truth: investors need to invest in the future, not companies wedded to the past; buy tech. (Free to read)
Think back to earlier this year and 2022. A narrative did the rounds. It held that tech was out of fashion, a view that seemed strengthened by job losses at the techs. On the other hand, the FTSE 100 seemed immune to the worst of stock market carnage. Whilst stocks tumbled in the US, the FTSE 100 barely blinked. At worst, during the sell-off in 2022, the UK’s leading index stood 11 per cent below its five-year high. By contrast, at one point in 2022, the S&P 500 was close to a quarter off its five-year high. The NASDAQ did…