Hedge Funds: Paul Tudor Jones Expects Stocks to Retest March Lows
Paul Tudor Jones said Wednesday that he expects that the market will push higher by June. However, he expects there to be a very volatile market come April.
In an interview with CNBC, the money manager said that things could get bumpy once we start to look at the real economic impact of coronavirus.
“My guess is one of the reasons the market’s up right now is because of all the month-end rebalancing. The market’s front-running, it sees the fact that there are going to be a lot of equities to buy,” Jones said in the interview. “That’s one reason my guess is we’ll stay firm into month-end and then we’ll be challenged in April.”
Paul Tudor Jones on Coronavirus
During the conversation, Jones said that he expects the market to hit new lows when the U.S. experiences a peak in the epidemic curve. “My guess is we’ll be higher three or four months from now, five months from now, than lower than where we are right now,” he said.
Markets have rallied over the last three days thanks to the stimulus efforts by Congress and monumental support from the Federal Reserve. However, markets are not focused at the moment on the possibility of a recession.
Jones went on to say that his daughter had contracted a “mild case” of COVID-19. He said that she is doing fine and working through the symptoms.
Jones is the founder of Tudor Investment and Just Capital.
Recent: Hedge Funds: Did Bill Ackman Make $2.6 Billion on the Coronavirus Outbreak?
Latest Alternative Investment News
TrueBridge Capital Partners, the venture capitalist firm based in Chapel Hill, N.C., announced the closure of its sixth venture capital fund-of-funds, TrueBridge Capital Partners Fund VI, L.P. after receiving commitments…
The pandemic sparked whole new trends including a massive jump in online ordering and digital payments, the wholesale conversion to “work-from-home,” and the decimation of business prospects for movie theaters…
Speaking to students on a webinar, Bank of England governor Andrew Bailey said the bank was considering whether a UK central bank digital currency (CBDC) was feasible.
Nothing, it seems, can stand in the way of Robinhood’s cash chase. COVID-19 notwithstanding, the share trading and investment platform announced and raised in May an ‘F’ funding of $280…