Paul Tudor Jones said Tuesday stocks that performed the best since the depth of the pandemic are going to have a rough time.
The Fed's hawkish pivot triggered a big sell-off last week in growth-oriented technology stocks, as investors weighed the risk of rising rates.
"The real trick here would be, can the Fed unwind what many consider a financial bubble without there being huge negative economic consequences. We'll watch and see," Jones said."Commodities relative to financial assets are so incredibly undervalued. One would think on a relative basis as we go through this tightening [cycle], commodities would outperform financial assets by a wide margin," Jones said.
Jones is the founder and chief investment officer of Tudor Investment Corp. He shot to fame after he predicted and profited from the 1987 stock market crash. He is also the chairman of nonprofit Just Capital, which ranks public U.S. companies based on social and environmental metrics.
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