> Capital markets will be a mixed bag in 2015. Big tech names will continue to access capital easily (see 1/), but the combination of rising rates and depressed

> Capital markets will be a mixed bag in 2015. Big tech names will continue to access capital easily (see 1/), but the combination of rising rates and depressed prices for oil will bring great stress to global capital markets and there will be a noticeable flight to safety around the world. Safety used to mean gold, US treasuries, and blue chip stocks. Now it means Google, Apple, Amazon, and Facebook. So several of the biggest momo plays of an extended bull market are now safety stocks? Notwithstanding the fact that anyone who has even a modicum of knowledge of the public equities markets will cringe at the notion that GOOG, FB, et. al. are the new Treasuries (they're not), it's worth pointing out that Google's shares were basically flat last year and Amazon's shares lost more than 20% in 2014 as investors started to question the company's strategy in light of the fact that some of its big investments clearly aren't working. That Wilson lumped these two names in with FB and AAPL, which had excellent years, tells you how informed this prediction is.