Predicting Nasdaq: Traders work at the new Nasdaq trading floor of the Philadelphia Stock Exchange inside FMC Tower in Philadelphia, Pennsylvania. Jones predicts the Nasdaq could edge higher if nationalist candidate Marine Le Pen loses France’s presidential election. – Bloomberg
BILLIONAIRE investor Paul Tudor Jones has a message for Janet Yellen and investors: Be very afraid.
The legendary macro trader says that years of low interest rates have bloated stock valuations to a level not seen since 2000, right before the Nasdaq tumbled 75% over two-plus years. That measure the value of the stock market relative to the size of the economy should be “terrifying” to a central banker, Jones said earlier this month at a closed-door Goldman Sachs Asset Management conference, according to people who heard him.
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