Paul Tudor Jones Hedge Fund Classifies Market Run as a 'Bear Market Rally'
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In a letter to investors of Paul Tudor Jones' hedge fund, Tudor Investment, the fund classified the current market run as a "bear market rally," according to a report from Bloomberg.
Tudor told clients, "Impressive counter-trend rallies are a feature, not an oddity, of secular bear markets... we are not inclined to aggressively chase the market here. Rather, we eye a better opportunity to be long equities into year-end on a potential autumnal pullback."
The hedge fund said investor psyche is still fragile and slowing growth in China and a possible return of swine flu to the front page are further catalysts for a pause.
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Jones's Market Call
I am glad to read Jones's take on the market. I started to feel uneasy about stocks two weeks ago and have been liquidating my positions, with most selling done today. In the past, I usually managed to stay too long at the ball. This time I bid adue to the market with some good profits and ready to invest again another day.
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Jones
Kip W on Aug 6, 2009 11:25 PMEveryone is calling for a sell-off. I say we're going higher still. Dow 10,000!