Carlyle Cautious on Big Tech, Likes ‘Exceptionally Cheap’ Europe
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The run-up in big US tech stocks is starting to look overdone, boosting the appeal of beleaguered European equities, according to Carlyle Group Inc.’s Jason Thomas.
The euro may be at parity with the greenback in the next few months, giving US dollar investors a foreign-exchange tailwind along with valuations that already make European equities “exceptionally cheap,” Thomas said Tuesday in an interview on Bloomberg Surveillance. European stocks are trading at a 40% discount to US assets, he said.