INTERVIEW - Nvidia and Anthropic are making the stock market nervous - a $3600 billion fund manager gives the all-clear: "The sales are very real"
The Nvidia crisis has spooked many investors. Mike Gitlin, CEO of fund giant Capital Group, considers comparisons with the 2008 financial crisis to be unfounded – and defends active portfolio management against its critics.
Mike Gitlin, CEO of Capital Group, believes the crisis surrounding chipmaker Nvidia is not as severe as some investors may think, citing the company's $4 trillion market capitalization. He notes that many tech stocks tied to artificial intelligence, including Nvidia, have experienced a correction and are now 20-30% below their highs.
Gitlin draws comparisons to the 1970s and 1980s, when specific sectors or countries dominated markets, rather than the 2008 financial crisis. He emphasizes the importance of fundamental analysis in evaluating companies' risks, particularly those with large debt and off-balance-sheet commitments. Gitlin also comments on the US market, noting that it tends to perform similarly under Democratic and Republican administrations, and that while the national debt is rising, interest rates are not unusually high.
Written by urgent.news from NZZ Wirtschaft's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
