The biggest decision facing equity investors at the moment is when to trade out of highly valued tech stocks and back into cyclical companies leveraged to the economy, says the chief investment officer of $180 billion super fund, AustralianSuper.
Mark Delaney, who oversees investments for the pension behemoth, told The Australian Financial Review's Inside Markets that there was a wall of money trying to decide when to make the switch.
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Jonathan Shapiro writes about banking and finance, specialising in hedge funds, corporate debt, private equity and investment banking. He is based in Sydney. Connect with Jonathan on Twitter. Email Jonathan at jonathan.shapiro@afr.com