Randall Abramson thinks we are currently in a bifurcated market.
He sees one part of the market that reminds him of the dot-com bubble where new IPO stocks trade at unreasonable levels.
Abramson is currently short one company that is trading at 20x revenue with no profits. The company has a $6 billion market cap.
On the other hand Abramson sees companies in the materials sector that are very reasonably priced. He especially sees that in the small cap Canadian sector.