THE FOOL: Bashing tech stocks is getting old (though, in general, they're still significantly overvalued) so I'll instead warn investors to stay away from the more mundane sectors that growth-addicted investors piling out of tech are piling into, like restaurants. Yes, restaurants. Companies like Tricon (NYSE: YUM), Wendy's (NYSE: WEN), and Jack in the Box (NYSE: JBX) are at or near 52-week highs -- probably deservedly so, as they were undervalued previously. The stocks to avoid in this sector are the high-growth darlings like Krispy Kreme, Panera Bread Company (Nasdaq: PNRA), and P.F. Chang's China Bistro (Nasdaq: PFCB). These are all decent companies that are growing rapidly, but their valuations are ridiculous, at 62x, 51x, and 46x this year's estimated earnings, respectively. I wouldn't touch any of them at half their current price.
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