Is this October 1999 redux?
Hedge fund legend Paul Tudor-Jones was on CNBC today and talked about an explosive blow-off top in stock markets reminiscent to the dot-com bubble.
“All the ingredients are in place,” he said.
Jones noted that from the first week of October 1999 until March 2000, the Nasdaq doubled before crashing. It was back below the levels of October 1999 by the following November and ultimately much lower. It took until 2016 for the Nasdaq to get back to record highs.
It’s worth remembering that October-March period when the Nasdaq was up in 19 of 21 weeks, including a run of 11 straight. It was truly a legendary time.
Nasdaq weekly during the dot-com boom and bust
