Sentiment in the stock market is so dark, it’s time to rummage through the hard-hit technology sector to pick up potential long-term winners.
For help, let’s turn to tech expert Chris Armbruster, the co-portfolio manager of the Virtus KAR Mid-Cap Growth Fund
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He’s worth listening to because his fund has such a great record. The fund beats its Morningstar Direct mid-cap growth category and U.S. mid-cap index by over 13 percentage points, annualized, over the past five years. That’s impressive, and not only because so many fund managers regularly lag behind the market.
‘Grow right through’ rate increases
Tech companies are down in large part because of worries about rising interest rates. That increases the discount rate in valuation models, which lowers estimated net present values. Armbruster acknowledges the challenge, but…
