The biggest story this week was the Fed’s interest rate hike by 50 basis points and the ensuing fallout. The resulting rout reminded many market participants of the bear market that followed the bursting of the dot com bubble. There appears to be some talk about capitulation but it feels like we may have a ways to go before we bottom.
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Voluntary Disclosure: I hold long positions in Berkshire Hathaway (BRK.B), Zillow (Z) and Twilio (TWLO).
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