Watch CNBC's full interview with legendary investor Paul Tudor Jones at Davos
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- Опубликовано: 19 окт 2024
- Paul Tudor Jones, chairman of JUST Capital and chief investment officer of Tudor Investment Corporation, joins "Squawk Box" to discuss the markets, interest rates, the world economy and more.
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.
“We are just again in this craziest monetary and fiscal mix in history. It’s so explosive. It defies imagination,” Jones said on CNBC’s “Squawk Box” on Tuesday at the World Economic Forum in Davos, Switzerland. “It reminds me a lot of the early ’99. In early ’99 we had 1.6% PCE, 2.3% CPI. We have the exact same metrics today.”
“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.”
The stock market hit a peak in 2000 before the dot-com bubble burst. The tech-heavy Nasdaq Composite approached 5,000 in early 2000 then dove thousands of points, crushing investors.
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.”
The virus, stemming from Wuhan, China, has killed six people with confirmed cases in China totaling nearly 300 as of Monday, less than a week before Lunar New Year, when millions of Chinese travel at home and abroad.
The Centers for Disease Control told Reuters Tuesday that a traveler from China was diagnosed with the first U.S. case of coronavirus in Seattle.
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What a brilliant, rare man; a wealthy, successful man with a conscience.
He made me realize the difference between stock investing and stock trading
He warned us 2 months before the virus hit that it could be very serious.
I dont mean to be so offtopic but does anybody know a way to log back into an Instagram account..?
I somehow forgot the password. I appreciate any help you can offer me.
@Dustin Pierce instablaster :)
This dude is a student of history. I respect that.
Paul Tudor Jones = The Man !
Nice video and understanding you did a great job in this video keep it up
Tudor Jones said it best. Instead of just shareholders, we should put focus on employees, the planet, and the community.
If companies didn't look out for the shareholders, there will be fewer companies, fewer jobs, & everyone would be worse off than they otherwise would be. Like the interviewer said, in the past, the wealth & jobs were concentrated in a few Western Capitalist countries, & now, that more of the world has moved towards capitalism, the wealth is being shared around the world but the average Americans seem to have this self-centered view that they somehow deserve more than the average person in developing countries with the same skill-set.
His interviews in Market Wizards are special. Anyone that made money in 1987 can destroy today’s market.
This guy is smart, he knows what's up.
muckity mucks and talking heads. I like this guy.
What does talking head mean? Aren't we all talking heads?
@@ianrjm969 TV personalities/hosts aka the 3 people he was just talking to
@@theognis1002 I guess cos u can only see their heads? Just a weird thing.
@@ianrjm969 it's just an expression typically reserved for news anchors
@@ianrjm969 googled: The term talking head (in existence since 1964) has derogatory overtones. For example, the judge in the David Westerfield trial in San Diego in 2002 said "The talking heads are doing nothing but speculating about what the jury may or may not be thinking"
I use the term dud, I would imagine it falls into the same category.
A dud is "something that doesnt work". Example: "That artillery shell was a dud".
"The news anchor was a dud"... he looks like a person....talks.... but ultimately is "broken" has no purpose.. hope that isnt confusing. English has a lot of weird associative sayings which can make it difficult when learning.
Also, note that these terms are all demeaning and will most likely offend a person.
The title of this vid reads ' legendary INVESTOR Paul Tudor Jones'. And Tudor Jones calls himself in the video "I am a TRADER NOT AN INVESTOR" - 2:41
Good catch. For CNBC they are the same
@@shawnl3151 They can call him Legendary Toilet cleaner for all we care.
I said it before. Mr. Jones is a Genius
I like how you clipped him saying gold, then remind us he said gold, but he didn’t want that to be the headline. So it wasn’t. It was “Cash is Trash.” So...gold.
Tbqf he said a small portion of a well diversified portfolio should be gold.
Nope. BITCOIN 😉
Martin Armstrong is a Legend and Paul follows him.
Why all the layers? Are news studio's not heated in Switzerland?
they are sitting outside
I wish I should have listened to this guy. I was watching this video when released and shrugged off when he said the virus was a serious danger to the stock market. stupid me.
Ayn Ml lol same. I came back to this video cuz i was laughing when he said that Coronavirus was a real threat.
I saw it coming. Sold off all my positions before the big drop. Waiting to see when to re-enter
@@hadieldiego Too late already. Market is almost back to record highs.
"118 cases, that's a huge deal"
2/3/2020: over 20,000 cases in China, over 400 deaths...
he was talking about Hong Kong, ie. how it is spreading to other countries
6:40 to the end - WOW
Guy absolutely nailed it.
Paul: Protect employees and community, CNBC "We have to go"
We need people like this in politics! Sadly why would he ever want to do that?
He’s far far too smart to run for a Political position.
Why is everybody wearing coats except the interviewés
Because the hosts spend many hours outdoors in Alpine Davos, the guests just a few minutes.
Paul Tudor Jones is a legend y’all don’t even know -jimbo
5:51 is everything
" I'm a trader not an investor. " Paul Tudor Jones.
This man is responsible for me trading Futures. Thank you sir. My life has changed financially. Life is good.
How long have you been trading Futures?
@@christopherdukes8055 4 Years...
@@christopherdukes8055 4 years...
He’s the Einstein of World Financial Markets
at the end where they tried to kill the interview with loud music just as he said our stakeholders should not only include shareholders, but also employees, community, environment, etc ... VOTE ANDREW YANG because thats exactly what hes fighting for , to rewrite the rules of our economy so that all of those things are equally aligned to create a more happier and efficient economy!
Came back to revisit this 2 months later....
All these billionaires have their ties on like they got completely wasted the day before
Brilliant. Love PTJ.
What a great way to evaluate the economy right now...he brings up some extremely great issues...he is dead on...if companies weren't so fixated on shareholders, the economy would probably be in the 3.5% gdp or more...they just don't get it, and it just may cost Trump his election because it seems to me millennials are more persuaded by Bernie Sanders and his taxing companies...but if you look at it through Paul's eyes, you can see why
This man should be president
PREACH MR. JONES
If he is investing using tactical asset allocation then shorted the market both to protect risk but also benefit
3:15 “118 cases in Hong Kong, that’s a huge deal”.
5 months later, 10.3million confirmed cases. PTJ was calling this what it was before most had even heard of it or wanted to acknowledge the threat.
2:41 im a trader not investor
interview with legendary investor
Legend
TIME STAMPED 8.55 MY THOUGHTS EXACTLY WISHED EVERYONE THOUGHT THIS WAY.
Amen to that.
This man has the intelligence in foresight to see the pitchforks coming why the rest of them are so oblivious is beyond me
You could see Joe Kernan's mind exploding there as he struggled with what Paul Tudor Jones was saying...
Joe Kernen
News Presenter
Joseph Richard Kernen is a news anchor, the co-host of Squawk Box on CNBC. His nicknames are "The Kahuna" and "The Hair".
Born: Jan 06, 1956 (age 64) · Cincinnati, OH
Height: 5 feet 11 inches
Net worth: $14 million USD (2018)
Spouse: Penelope Scott (m. 1998)
Parents: Joe Blake Kernen (Father)
Education: Massachusetts Institute of Technology · University of Colorado Boulder · St. Xavier High School
This is one man i will love to be mentored from. 🤕
A better analogy is you need to take care of the chickens (the employees and the community your business functions in), other wise you won't get any more damn eggs (profit). For too long the chickens have been doing there best, but we are at a breaking point. You can't expect the american people to consume your good's when they don't have a living wage, and they are up to their eyeballs in debt. It's not right to have a CEO making 200+% more then his/her average worker, as well as taking share in the company and getting even more of the pie that way (dividends/fake share price rise do to bond drive by backs of stock). Share holders are not the people making the produce your company sells (for the most part). like Paul said, the american economy is a confidence game, and the young people don't have any confidence in the system...
And this is why he gets Bitcoin, they have no idea how smart this guy is when it comes to understanding the words Monetary system and what’s about to take place, he was right about the economy, and he’s right about Bitcoin... don’t be on the wrong side of history.
The SOURCERERS are kicking everybody s ass
we had the calm before the storm...we are now in the storm, hopefully, it will be quick and all will be fine
If you like what Paul is saying, you would probably love Amory Lovins, author of Natural Capitalism. Brilliant practical ideas.
Thank Paul you said I’m a trader not investor it’s stupid they called him a investor in the beginning
1:33 to 3:30 great call
Joe says it all with just the look on his face, without saying a word - go Joe!
i have seen a few interviews from CNBC Davos, and i find the guy to the left so anoying. please tell him to shut up and listen.
Joe Kernan (the guy you are referring to) doesn’t listen. He asks “questions” without question marks. They are comments/opinions. He has no interest in actually hearing the answer. He’s why I generally watch bloomberg in the morning. When Kernan comes on, I change the channel.
Cash is king!!!!!
The Healthcare problem of affordability in this country will drive people into Socialism....
#greed
The biggest factor driving healthcare costs is high levels of obesity & most people not taking care of their own health as they should; if that changed, then healthcare costs would come way down.
"Shareholder returns" at < 2% ?? I guess the producers in the finance sector of the economy don't craft goods and services practical for consumers at all income levels.
S&P 500 dividend yield in 2019 has been 1,8%....in 2018 was 2,14%...last time that it was above 3% was in 2008. What is it talking about ? Moreover...not all companies have made buybacks ..... So, you save 1 million $ for your retirement you get 20/30k ...once you were getting 60/80K. They are simply ripping off savers and they are not fully aware of that. Then this guy who is not a normal saver but a Billionaire with just some power, says ....rip them even further. This is crazy. Apply what he wants, and you ll see shares diving 50%...at least. This is "do gooders" syndrome. They have made so much money that they now pretend to be world's saviours. MEN MADNESS.
Translation: "Guys we've gotten waaaaay too fucking greedy and the masses are starting to catch on. Let's throw them a couple bones until things cool down. Then we can keep scalping."
Is it China or chaaanaa?
Both ! Chaaana is Latin. That’s how PTJ rolls !
@@joscaca lol I highly doubt it that "PJT" is Latino
BTC ETH XRP ZEC
Watched it Feb also.
Let him talk!
Why is the host just want to maintain share holders first and only?
Because everyones' retirement, pension, is built on those shares. If they are cut for the millennial generation the boomers will be screwed.
@@aidenw207 Maybe your retirement/pension is built on those shares, but there are great swaths of disenfranchised people that have been left behind. That is how Trump got elected, by talking to those people.
Buy puts on Carmax, buy good healthy companies with the proceeds if it cycles out.
Paul is right. The equation has change. All five are important (Shareholder, Employees, Customers, Communities and the Planet) at the same time else we will perish.
PTJ called it! The guy still has it. The virus definitely was a curve ball, alright
Can someone please tell Ray Dalio that cash is King!
Waiting and waiting for Joe to chime in with some good old-fashioned "profits at any cost" rhetoric. Sorry Joe: very encouraging comments about CEOs now willing to refocus business practices. It suggests to me that many more players in corporate America would embrace bottom up reform, and that, among the Democratic field, Michael Bloomberg would be the ideal Presidential candidate to bring that about.
Haha the amchors don't really share his view. Maybe if you are trading you don't really need economic growth hence the incentives are much different as for people who invest in companies on a long term basis.
A specter is haunting the United States..
9:41
thats hilarious what this guy is saying... Really the virus should make the investors nervous about their the businesses they are holding long-term. The virus is a very sad and dangerous issue, but how on earth can it influence wonderful businesses with consistent profits and high margins over the period of the next 5-10 years...
I always never give these people credit. You can literally throw darts blindfolded at the market back in the 1960s and hold, to be extremely wealthy today. No credit to being an investor in the greatest economy known to man kind.
But if shareholders are the only ones who have a vote it is all just platitudes. If all the other interest groups had a vote, it would be a disaster. The only answer if for central banks to be dissolved as they are the sole cause of this disaster.
Only shareholders get to vote because more than 90% of companies fail within the first 5 years, & it is the shareholders who take on those losses, whereas employees get paid during the whole time irrespective of whether the company is making profits or not. That's the difference between being an employer/owner & an employee, you trade the security of a fixed income/wages for the uncertainty of profits & losses. Would the employees who want a share in the profits of the companies be willing to bear the losses as well? If not, it's like wanting to have your cake & eat it. Besides, if one wants a share of the companies' profits, all they have to do is start buying their shares, & then realize that it's not as easy as it sounds to make money as shareholders.
I could of told you about sharing 30 years ago! You been sleeping, just spewing this bullshit because the game moneychangers have playing is being exposed??
It’s obvious who the talking heads represent and it’s not Our country and it’s Citizens.
Income equality ? Is anyone talking about that?!!! The top 0.1% have increased their income more than 80 % of workers !!
Rick Burns 100% because of central bank policy. Policy that has been implemented mainly because of massive growth in government debt around the world. The top 1% just benefit as a result.
Rick Burns el
Bitcoin fixes this
LearnFaster I agree with all of your points except the last : I like the Costco model . Check it out
I have a M.sc in Finance and I have always been denied to work in the Front Office. I hope a new form of socialism or modified capitalism will come one day, as free market made me really angry.
just trade your own money. if youre good you can double a 1k account a few times in a year.
he is deepstate.
I don't buy a shitting thing from these money changers!
“Sharing arrangements”? Sounds like socialism Pauly
Capitalism is out of control and has created the extremes of super rich and poor. Naturally there is a return to the mean.
Roy Dopson no matter how much you socialize inputs the outputs will remain. Fascinating how hard working people get lucky every day isn’t it. And no system has lifted more out of poverty thank capitalism. And in fact, it’s the best time in history to be alive, extreme poverty is at an all time low. So your comment about “capitalism is out of control” is paranoid, and factually incorrect.
@@cjb8993 If you haven't noticed, ALL "isms" are collapsing. All systems based upon human thought are degrading into chaos, along with the environment.
Humanity is fucked.
Buy gold. That’s the answer bitcoin might be a way too
Yeh, buy gold, then in a crash it looses 50%........great idea. Idiot.
@@greigsanderson Anything can lose money during crash. It depends on type of crash
DDo you think Paul Tudor Jones or Ray Dalio are idiots? They say invest in GOLD too.
@@greigsanderson So youre calling Paul Tudor Jones an idiot??? google him with Gold
How that gold turn out for you guys? 😂
@@learnfaster164 why is gold more valuable than the dollar. Gold will never be what it used to be. We will never trade with rocks and gold again. You have to follow the money right now and follow insider trading. USA is in bad shape with the debt that Obama created.
Invest in Elon
Be careful, he's a convicted fraudster. Smells like Enron.
Convicted fraudster! He's a genius with superhuman endurance, he makes great products that will vastly improve your existence. He is what we should all strive to be like, not couch surfers and keyboard warriors but worthwhile human beings. I don't see any similarity with Enron.
It's amazing to see the outpourings of hatred against him. I was reading about some dingbat Sikh, a member of a group that call themselves TSLAQ who devotes his life to taking Elon down! Crazy.
ruclips.net/video/7lUu1mVtNW4/видео.html
@@gareth5000 He has been convicted of fraud by the SEC. Do you have a STEM background? He is not a genius, far, far from it. He is great at marketing himself as such, and fooling people with weak backgrounds in science. FSD is at least 10 years away but he has convinced people it is 6 months away since 2017. This is already causing fatalities.
It is fascinating the aura he has managed to build though, I've really seen nothing like it. A symptom of our age.
Time will tell