The smart money is using the fleeting money (high stock valuations) to hit the exits.
Whether it is Facebook using its funny money (stock) to buy WhatsApp for $19b, or the raft of other mega-valuation names (LNKD, TWTR, CSOD, NOW, P, AMZN, WDAY, CNQR, SPLK, DDD, SSYS, etc.) who are hitting the market market with secondaries and/or convertibles or debt of some sort, I think the smart guys are taking money off the table.
We are moving into the 2Q doldrums so I think this is probably a good time to shorten up as well. The market hasn't broken yet, but when it does there will be lots of regret. The writing was on the wall.
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