Investor Bill Gross is sounding the alarm on the current market trend, which he says has all the hallmarks of past speculative bubbles. The billionaire investor notes that Bitcoin’s surge to new heights and meme stocks’ sharp increase are being driven by hype rather than fundamentals. As bearish bets continue to falter, Gross fears that a major correction may be looming. For someone who has witnessed many market cycles in his 80-year career, the rapid escalation of this bull market is reminiscent of past periods of reckless exuberance.
Source: https://www.bloomberg.com/news/articles/2024-12-06/wall-street-s-risk-on-momentum-mania-has-bill-gross-on-the-alert