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GMO's Chiappinelli: Eerie parallels with '99 show market on edge of a speculative mania
Money Life with Chuck Jaffe
English - June 22, 2021 13:07 - 59 minutes - 54.5 MB - ★★★★ - 106 ratingsInvesting Business investing money personalfinance Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
Peter Chiappinelli, portfolio strategist at GMO Asset Management, says that the market is showing similarities to 1999, which proved to be a great market opportunity that ended in a bear market. Chiappinelli says that every bubble has expensive stocks, but also some wild speculators -- people he calls 'the crazies' -- who are wildly speculative and bullish. They arrived about a year ago, Chiappinelli says, and it's a sign that the market rally has reached its final stages. Also on the show, Gene Peroni of Peroni Portfolio Advisors talks about why technicals show signs of a sideways, range-bound market for the summer, Josh Cohen, head of institutional defined contribution for PGIM, discusses the current status and future of retirement savings programs, and Chuck answers a question about short squeezes and whether investors should jump into them.