Real Money Contributor Doug Kass says the TFANG bubble officially burst last Friday. Kass is referring to Tesla (TSLA), along with the FANG stocks – Facebook (FB), Amazon (AMZN), Netflix (NFLX), and Alphabet (GOOG), which was formerly known as Google. Kass believes there’s no ‘margin of safety from the TFANG’s lofty multiples or even loftier and unrealistic expectations.’ Kass also points to other collapsing valuations in stocks like LinkedIn (LKND) and Tableau Software (DATA) as a sign that some stocks are ‘beginning to look a lot like internet stocks did in mid to late 2001.’ Kass said stay away from bottom fishing with these stocks, and he remains fundamentally bearish on Tesla, Amazon and Netflix.
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