No value in value investing

A new investment style is in vogue. But it still favors dotcoms with a B2B bent.

As the manic growth of tech stocks convulses bourses across the world, risk-takers are shuttling between the old and new economies like revolving doors, forcing Asian fund managers into sector rotation.

Nasdaq's second largest one-day fall overnight and the simultaneous rise of the Dow show that many investors and even trustees are struggling between cashing out profits and pursuing growth stocks.

Sector rotation has been a hallmark of the global equity markets in the last...

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