Up and up and up and…
Aug 07, 2020
3 minutes
By Maarten Mittner
equity markets are usually efficient allocators of capital. But there may come a time when markets get distorted, usually due to changes in the macroeconomic environment. Now may be such a time.
High-tech companies have grown strongly since the beginning of the year, partly justified by excellent earnings growth in the second quarter. But this has largely been achieved amid criticism that they ruthlessly undercut competitors and pay workers below-average wages. The rest of the market is losing out while the coronavirus
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