Business
‘Unbelievable valuations’: Future Fund’s Costello warns of tech sector correction – Sydney Morning Herald
Future Fund chairman Peter Costello has warned the surge in technology stocks cannot be sustained over the long-term and will ultimately suffer a correction.
The former Coalition treasurer, highlighted the role of ultra-low interest rates and an enormous wave of government spending in supporting economies, saying technology stocks in particular had been pumped up by cheap money. He pointed to the surge in the tech-heavy NASDAQ index in the United States, and predicted a correction at some point.
So youre getting unbelievable valuations on companies that dont make profits. Youve just got to ask yourself: is that sustainable in the long term? said Mr Costello,…
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