Retail Traders Taking Brunt of Pain: MLIV Chat

Watch on YouTube ↗  |  February 05, 2026 at 09:14  |  2:18  |  Bloomberg Markets
Speakers
Mark Cudmore — Executive Editor, Bloomberg Live / Macro Strategist

Summary

Mark Cudmore and Bloomberg hosts discuss the recent tech and software selloff, the unwind of momentum trades, and the pain hitting retail investors across precious metals, favored tech names, and crypto. Cudmore sees the tech weakness as part of the AI trade evolution, expects hardware to catch down to software, and flags rising scrutiny on private equity, private credit, and private debt. He also sees the risk of a broader but modest risk-aversion correction next week rather than a major panic.

  • Tech and software sold off while value and momentum trades unwound.
  • Mark Cudmore says hardware may catch down to software rather than software rebounding.
  • Retail investors are hit by volatility in precious metals, favored tech names, and crypto.
  • Software weakness may increase scrutiny of private equity, private credit, and private debt.
  • Crypto is pressured by both the software selloff and the momentum unwind.
  • Cudmore sees a possible broader but modest risk-aversion correction next week.
Ideas
Mark Cudmore Executive Editor, Bloomberg Live / Macro Strategist 0:40
Tech hardware may catch down
The tech selloff is evolving within the AI trade. Software weakness is unlikely to reverse, and tech hardware is more likely to catch down to software than software is to rebound, keeping pressure on both software and hardware.
IGV MED
Mark Cudmore Executive Editor, Bloomberg Live / Macro Strategist 0:40
Tech hardware may catch down
The tech selloff is evolving within the AI trade. Software weakness is unlikely to reverse, and tech hardware is more likely to catch down to software than software is to rebound, keeping pressure on both software and hardware.
Tech hardware MED
Mark Cudmore Executive Editor, Bloomberg Live / Macro Strategist 0:51
Private markets face rising scrutiny
Software weakness is likely to increase scrutiny of private markets. Investors may become more worried about private equity, private credit, and private debt, making those asset classes less attractive.
PSP BIZD Private debt MED
Mark Cudmore Executive Editor, Bloomberg Live / Macro Strategist 1:51
Retail momentum trades are overextended
Retail-favored momentum stocks became overextended and are now being sold hard. With pain also coming from precious metals, big favorite tech names, and crypto, these crowded momentum trades look risky to own.
MOMENTUM STOCKS HIGH
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This Bloomberg Markets video, published February 05, 2026, features Mark Cudmore discussing IGV, Tech hardware, PSP, BIZD, Private debt, MOMENTUM STOCKS. 4 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Mark Cudmore  · Tickers: IGV, Tech hardware, PSP, BIZD, Private debt, MOMENTUM STOCKS