Norway's sovereign wealth fund CEO suggests doing the opposite, selling U.S. tech stocks and buying China

Nicolai Tangen, head of Norway's $1.80 trillion sovereign wealth fund, said investors willing to buck the market in the coming months should consider selling US tech stocks and private credit while increasing their holdings in China. "The best thing to do is always to do the opposite of everyone else, and what should be done now? Well, if you want to do the opposite, it's to sell US tech stocks, buy China, sell private credit, buy obsolete stuff," Nicolai Tangen said in an interview on the sidelines of the Davos forum on Wednesday.