Alec Hogg: Why we sold three top performing stocks

'So out went Spotify, Cloudflare and Adobe, all three of which stood out like sore thumbs in the tech-heavy BizNews Share portfolio', writes Alec Hogg.
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There were a few surprises for around 300 Premium members who attended yesterday's monthly webinar updating the BizNews Share portfolio. We implemented as many changes as previously averaged annually in the six-year-old model portfolio. It's worth repeating the reasons.

Despite the tidal wave of freshly-created money, largely because the dollar remains the world's reserve currency US interest rates have turned upwards. It seems the extra greenbacks are being mopped up around the world. Reversing interest rate cycles are usually reliable turning points for stock market cycles.

Another sign of the end of the bull run is reflected in the mass of new retail investors – as ever believing they're bulletproof; that there's easy money to be made; and supported in that idiocy by newfound prophets. The biggest signal of all, though, is alarm bells ringing for "emerging tech" stocks in Ray Dalio's Bubble Indicator.

___STEADY_PAYWALL___

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