Lance Roberts, with 33.47K followers, provides insights on recent market developments.
**Market Overview**
Mega-cap technology stocks, which have long been the driving force behind the market’s advance, experienced a sharp decline as momentum strategies faced their first significant hurdle in months. Despite this sizable selloff in leadership sectors, the broader technical picture remains constructive. However, underlying fragility persists beneath the surface.
The reopening of economies offers some relief, but analysts warn that many critical datasets—particularly those related to labor and inflation—may never be fully released or could undergo heavy revisions. This situation forces investors and policymakers to operate with imperfect information, adding an element of uncertainty to decision-making.
**Market Analysis**
It’s important to note that EBITDA is not an ideal proxy for cash flow analysis. This is because EBITDA assumes that all revenues are collected and all expenses are paid immediately, which can lead to a misleading sense of liquidity.
**Tech Cracks and Sector Rotation**
Last week marked the most pronounced and coordinated rotation away from high-beta assets we’ve seen throughout the year. What started as routine profit-taking in a handful of sectors quickly escalated into a broader shift, reflecting changing market dynamics.
**About Lance Roberts**
Having spent over 25 years in the investing world—ranging from private banking and investment management to private and venture capital—I have accumulated a wealth of experience. Currently, I am a partner at RIA Advisors in Houston, Texas.
Most of my time is dedicated to analyzing, researching, and writing commentary on investing, investor psychology, and macroeconomic trends. My perspectives tend to be contrarian and are often outside the mainstream, but I strive to use common sense, clear explanations, and my real-world experience.
**Projects and Publications**
I am a managing partner of RIA Pro, a weekly subscriber-based newsletter that reaches individual and professional investors nationwide. The newsletter covers economic, political, and market topics as they relate to your financial well-being.
Additionally, I maintain a daily blog, widely read across the country by individuals and professionals alike. You can find my writings at [www.realinvestmentadvice.com](http://www.realinvestmentadvice.com).
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Stay tuned for more insightful analysis and updates on market trends.
https://seekingalpha.com/article/4844338-ebitda-and-warnings-of-charlie-munger?source=feed_all_articles
