The Globe and Mail reports in its Friday edition that Richard Bernstein is advising to get out of the most popular technology stocks and buy pretty much anything else. The Globe's Scott Barlow writes that the founder of RB Advisors believes there are "once-in-a-generation investment opportunities" for 2024 resulting from what he terms as "overly speculative myopia." Notably, he thinks there is a misguided focus on the Magnificent 7 megacaps: Tesla, Microsoft, Nvidia, Apple, Alphabet, Meta and Amazon. Investors have focused on these few stocks at a time when the fundamentals and growth characteristics of the seven are far from unique. The strategists at RB Advisors screened all G7 markets, including Canada, and found 169 companies with expected earnings growth above 25 per cent. Only three Magnificent 7 stocks made the list. The current mania surrounding artificial intelligence that is driving technology stocks reminds Mr. Bernstein of the "new economy" language in the late 1990s. The technology sector would eventually reshape the economy, but not before a "lost decade" for technology stocks beginning in 2000. He implies that the next 10 years from here will feature similar underperformance of the Magnificent 7.