It will be "really hard to make money" in stocks over the next decade, said the billionaire investor, noting that the S&P 500's valuation reminds him of the 2000 dot-com bubble.
What to know : Paul Tudor Jones said bitcoin, with its fixed supply, is a stronger hedge against inflation than gold, especially during periods of heavy monetary and fiscal stimulus. U.S. equities look overvalued, Jones warned, arguing that current S&P 500 valuations imply a negative 10-year forward return. Stock market capitalization relative to GDP is near historic extremes like the dotcom bubble, he noted, raising the risk that a major market correction could worsen the federal budget deficit and roil the bond market through collapsing capital-gains tax revenues.
