The fixation with the power of technological disruption leaves two large blind spots.
My first contribution to Bloomberg Prophets! Equity investors struggle daily with what disruptive innovation means for specific companies and sectors (TSLA vs F and GM, AMZN vs brick and mortar retailers). Is it time to consider the same issue with respect to market-wide valuations, especially when they are at historic highs? I think it is. Read my thoughts here: