Traders are calling it “Doge day.” Unfortunately, for Dogecoin long haulers, I don’t think the meme token will exist in three years, let alone double.
Just because the page was turned on the quarter doesn’t we’ve seen the last of these rotations or peak rates.
While there are too many variables to place an estimate on where bond yields will end 2021, I do think it makes a tonne of sense to be a buyer across the board, so you’re not caught skating offside should the bond market grip investors with fear once again.
In prior pieces, when bond yields sparked a correction in the growth-heavy Nasdaq 100, I urged investors to nibble away at their favourite growth stocks before rates had a chance to peak and retreat.
But if you’re a long-term investor with such names on your shopping list, I don’t think now is a very good time to be lowering the bar.
Inflation jitters will pass in time, and I don’t think that the first-quarter pop in rates is the start of a longer-term trend.
So, if you’re hungry for a shot at doubling in the next five years, consider Canadian commerce kingpins Shopify and Lightspeed POS, both of which are under considerable pressure.
Both firms are Canadian e-commerce princes, and either could be crowned as king over the next decade and beyond.
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