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Mike Novogratz: “The stock market is inquisitive”

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Mike Novogratz, money manager at the digital fund Galaxy Digital Holdings Ltd., said that the stock market is “deranged from reality” as it increases, and that small investors should exit before it collapses.

“We are in irrational exuberance, this is a bubble,” he said in an interview with Bloomberg TV on Friday. “The economy is slowing down. We are going in and out of Covid, but the tech market hits new highs every day. That is a classic speculative bubble. “

Wall Street heavyweights, including Stan Druckenmiller and David Tepper, have been sounding the bells about the stock market for months. However, the S&P 500 Index has risen further, erasing losses from the coronavirus pandemic and posting its best quarter since 1998. The Nasdaq 100 Technology Index has seen an even more dramatic increase.

, Mike Novogratz: “The stock market is inquisitive”, Forex-News, Forex-News

Mike Novogratz warns of possible stock collapse

Novogratz said the rise in stocks, especially tech ones, reminds him of Bitcoin’s price recovery in 2017, when the cryptocurrency went from $ 8,000 to nearly $ 20,000 in a couple of months, due to retail interest before collapsing. .

Mike said the recovery in tech stocks was largely lost and that instead has been investing in Gold and Bitcoin, which are also benefiting from the liquidity underpinning the stock market.

“We are at really dangerous valuations on the growth side, on the technology side,” he said. “Whether it’s Zoom or Tesla or Beyond Meat, any action that has a story, everyone is rushing. That worries me”.

Novogratz invests in Gold and Bitcoin

Recently, Mike Novogratz, through an interview with CNBC, announced that he is investing in Gold and Bitcoin, especially in the precious metal.

My feeling is that Bitcoin outperforms gold, but I would tell people to have a lot less than gold. Just for the volatility

Adding on the gold that: “The macro setting is so perfect right now for something like gold. Central banks continue to print more money, so gold is going to hit the old highs of $ 1,950 and keep going. This has just started

In short, the legendary Mike Novogratz recommends going out of the bag and safeguarding money in active havens such as Gold and Bitcoin. What do you think? Do you agree with Mike? Let us know your thoughts in the comment box.



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1 Comment
  1. , Mike Novogratz: “The stock market is inquisitive”, Forex-News, Forex-News
    ปั้มไลค์ says

    Like!! I blog quite often and I genuinely thank you for your information. The article has truly peaked my interest.

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