PTJ在達沃斯指環球股市尚有大段瘋狂，但對冠狀病毒爆發審慎。
Billionaire investor Paul Tudor Jones said the stock market today is reminiscent of the latter stages of the bull market in 1999 that saw a giant surge that ultimately ended with the popping of the dot-com bubble.
“The difference is fed funds were 4.75%; today it’s 1.62%. And back then we had budget surplus and we’ve got a 5% budget deficit,” Jones added. “Crazy times.”
Asked if investors should sell now to avoid a blow-up like the one that took place in March of 2000, Jones said, “Not really. The train has got a long, long way to go if you think about it.”
The legendary hedge fund manager and trader noted that the Nasdaq Composite more than doubled from a similar stage to the dot-com bubble top. “That’s a long way from now. At the top theoretically, rates [would] be substantially higher.”
Jones, founder and chief investment officer of Tudor Investment Corporation, warned that the new “curveball” to derail the bull market could be the outbreak of the coronavirus.
“That’s a big deal. If you look at what happened in 2003 ... stock markets sold off double digits. If you look at the escalation of the reported cases, it feels a lot like that,” Jones said. “There’s no vaccination. There’s no cure. ... If I was an investor, I’d be really nervous.”
5 stages of a bubble 在 The 5 Stages of a Market Bubble - YouTube 的八卦
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