Bitcoin, housing and parts of tech are in a dangerous bubble, all-star investor Rich Bernstein warns (via TradingNation)
He speculates a meltdown could resemble the tech bubble. It took 14 years for the Nasdaq 100 to break even if you invested in it on Dec. 31, 1999, he noted.. In a tweet Tuesday, Bernstein warned rising home prices were starting to make the mid-2000s housing bubble seem rather mild.
"[Home prices are] now accelerating more than what you saw during the housing bubble," the CNBC contributor said. "The rate of change now is higher than anything you saw during the housing bubble in 2005, 6, 7, 8." His other major risk is tied to chaos at the ports and its bullish effect on inflation. Bernstein sees it as a serious problem, andWhile he believes hyperinflation risks are very low, he believes"They're not going to stay this high. But where do they settle? Do they settle at the consensus 2 to 2.5% or do they settle at 3% or 3.5% or 4% or 4.5%? I think you treat it as an over/under bet right now," he said.
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