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The Tell: There’s no ‘90s-style bubble in tech stocks, says Cumberland’s Kotok

A stumble by tech stocks last week hasn’t exactly led to a wholesale market bloodbath, but it has brought about a resurgence of comparisons with the collapse of the late-1990s tech bubble that took down the stock market in 2000.

Read:Stocks continue to mirror the dot-com era in ominous ways

But David Kotok, founder and chief investment officer at Cumberland Advisors, argued Friday that doom-mongers are barking up the wrong tree.

In a Friday note to clients, he acknowledged that the overall market’s reliance on gains from so-called FANG—Facebook Inc. FB, +0.56% Apple Inc. AAPL, -1.40% Netflix Inc.

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