Petri Deryng, head of Pyn Elite Fund, recently issued a warning about the resurgence of a dot-com bubble after cashing out from technology stocks FPT and CMG. He highlighted that recent fluctuations in global tech stocks remind one of the technology crisis of 2000, when the HEX25 index in Finland and Nasdaq suffered significant declines post-tech boom. Although the tech bubble burst, many non-tech stocks recovered faster. Deryng noted that investor enthusiasm can lead to inflated stock valuations compared to income growth. Pyn Elite Fund, a major investor in Vietnam, no longer holds large stakes in CMG or FPT, despite these stocks yielding substantial profits in 2024. The decision to cash out was due to their growth exceeding expectations.
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