The prospect of one or more vaccines for Covid-19 has sent markets soaring. But certain stocks are set to do a lot better than others, as billionaire investor Stanley Druckenmiller points out.
“You’ve had a bunch of equities benefiting greatly from work from home. A lot of money has rotated into them. They are overvalued,” the hedge fund manager tells CNBC. “But then you’ve got a whole other sector of the market that has struggled mightily because of Covid-19. They’re selling at under-value relative to... a three-to-five-year outlook. So the rotation into that would seem entirely rational.”
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