Nick Train Defends Software Holdings Amidst Rout, Calls it 'Indiscriminate Sell-Off'

Nick Train, a fund manager at Bloomberg, has expressed his views on the recent software stock rout. He believes it is an "indiscriminate sell-off, even panic" and holds that his Finsbury Growth & Income Trust's holdings, including London Stock Exchange, Sage, and Relx, have an "opportunity" based on AI tools using their data assets. Despite recent losses, Train remains confident in his investments and notes that most companies have recently launched buyback schemes.