If you buy this kind of stock now, it will be a huge mistake, says investor and well-known strategist

Everyone is worried about the coming year. No one knows what will happen. But the analysts at this well-known company are very clear - don't buy this kind of stock!

Growth stocks have seen a big sell-off, but according to UBS strategists and their boss, it's too early to buy.

"Going forward, we think it's too early to get back into technology stocks. Valuations for growth stocks, while more reasonable now, are still high relative to value stocks," David Lefkowitz, head of equities for the Americas at UBS Global Wealth Management, said in a note to clients.

https://www.youtube.com/watch?v=b_37pthloAs

"As a group, these stocks accounted for 19% of the S&P 500's market capitalization in 2022 and dragged the entire index down by -8.7%. On average, these stocks are down -47% in 2022," noted Lefkowitz and his team of strategists.

"Many of the most expensive stocks have suffered from rising interest rates as well as a slowdown in technology…