In a CNBC interview today, celebrity investor Paul Tudor Jones warned that it's starting to feel like 1999, but not in a fun "Livin' La Vida Loca" kind of way: “My guess is that I think all the ingredients are in place for some kind of a blow-off [top],” Jones said, noting that investors should be quick if they want to capture remaining upside.
“History rhymes a lot, so I would think some version of [the dot-com bubble] is going to happen again... Remember, the Nasdaq doubled between October '99 and March 2000,” added Jones. “So, if it looks like a duck and quacks like a duck, it’s probably not a chicken.”
Jones says that gold, crypto, and Nasdaq-100 tech names are the best way to trade the bull market's last legs. In today's trading, December gold is up 1.8%, and earlier peaked at a new high of $3,994.50.
So in other words, there’s still probably a major selloff coming, but maybe just not yet.
Market valuations, which were already higher than the 1929 top, keep going higher. And those 1929 valuations were higher than those before the 1999-2000 dot-com bubble top. Crazy. |
