Mike Larson is sounding the alarm over what he perceives to be a growing tech bubble. Exhibit A is Uber, the ride-sharing company worth billions that has been operating at a loss for almost a decade.
He criticizes the hype-driven media and lazy fund managers for a lack of healthy skepticism. A senior analyst with Weiss Ratings, he believes that, just like the dot-com bubble he lived through, easy credit has been fueling overvaluation of assets and tech startups.
Now that the Federal Reserve is raising interest rates, the easy-money environment will dry up and many firms won't survive. Larson advocates going back to more "boring" stocks for protection against the eventual unwinding.