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“This looks like the beginning of a bear market,” argues Michael Shaoul. “We reached terminal enthusiasm” towards megacap technology last year, which is what caused the bear market, not tariffs, in his opinion. He’s looking at places previously “starved of capital” for opportunities. He also looks abroad, including Japan’s defense sector, Hong Kong, and other areas.

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Shaoul: Bear Market Caused by Tech, Not Tariffs

Schwab Network

Shaoul: Bear Market Caused by Tech, Not Tariffs