Forget LinkedIn - some tech stocks are still cheap

Eleven years ago, the dotcom bubble burst. Now, as LinkedIn almost doubled in value on its trading debut, many people are seeing a new tech bubble. But John Stepek isn't so sure. Here, he explains why, and tips a solid 'picks and shovels' tech stock.

Eleven years ago, the bursting of the first tech bubble the dotcom bust - laid the foundations for an era of lunatic monetary policy that continues to this day.

Fuelled by the low interest rates that were meant to cushion the US economy from the stock market collapse, a colossal property bubble inflated then exploded.

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John Stepek

John Stepek is a senior reporter at Bloomberg News and a former editor of MoneyWeek magazine. He graduated from Strathclyde University with a degree in psychology in 1996 and has always been fascinated by the gap between the way the market works in theory and the way it works in practice, and by how our deep-rooted instincts work against our best interests as investors.

He started out in journalism by writing articles about the specific business challenges facing family firms. In 2003, he took a job on the finance desk of Teletext, where he spent two years covering the markets and breaking financial news.

His work has been published in Families in Business, Shares magazine, Spear's Magazine, The Sunday Times, and The Spectator among others. He has also appeared as an expert commentator on BBC Radio 4's Today programme, BBC Radio Scotland, Newsnight, Daily Politics and Bloomberg. His first book, on contrarian investing, The Sceptical Investor, was released in March 2019. You can follow John on Twitter at @john_stepek.