During an interview on "Mornings with Maria" Penn Capital CIO Eric Green said many investors got complacent owning Big Tech after stocks tumbled Thursday, and that there is a lot of value in industries that investors have often overlooked.
ERIC GREEN: Well, clearly, investors got lazy and complacent owning these large technology, mega technology stocks, and Facebook had a disappointment. Netflix had a disappointment. The market is broadening out, and it's about expectations and expectations were missed from the big companies. And then these other companies that reported last night - expectations got very low and sentiment was very low, and they came out with good numbers and good guidance. So you've had this big bounce. It is remarkable that you said that Facebook had the biggest move down in from a market cap standpoint. Yesterday, we'll probably see today the biggest market cap up in the history of the market with Amazon. So a lot of volatility there. I think investors need to focus on more than this handful of big cap companies. There's a lot of value out there, particularly in the small cap market, in some of the industries that investors haven't looked at in the past or haven't paid much attention to.
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