Novogratz Says Stock Bubble Spurring ‘Dangerous Valuations’
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Mike Novogratz, the longtime money manager who now runs digital currency investor Galaxy Digital Holdings Ltd., said the stock market is “unhinged from reality” as it rises higher -- and small investors should get out before it crashes.
“We are in irrational exuberance -- this is a bubble,” he said Friday in a Bloomberg Television interview. “The economy is grinding, slowing down, we’re lurching in and out of Covid, yet the tech market makes new highs every day. That’s a classic speculative bubble.”