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Fortune
Fortune
Nick Lichtenberg

Hedge fund billionaire Paul Tudor Jones says 2025 is 'so much more potentially explosive than 1999' because of the way bull markets always end

Paul Tudor Jones (Credit: Kevin Mazur/Getty Images for Robin Hood)

Hedge fund billionaire Paul Tudor Jones, founder and CIO of Tudor Investment Corporation, has raised alarms about the state of financial markets in 2025, drawing pointed comparisons to the explosive tech-driven boom of 1999, while clarifying that today’s environment could be “so much more potentially explosive.” The reason why has to do with what the market veteran knows about how bull markets always play out.

Speaking to Andrew Ross Sorkin of the New York Times’ DealBook on CNBC’s Squawk Box ahead of the upcoming Robin Hood Foundation investor conference, Jones described today’s investment climate as uncannily similar to the one that preceded the 2000 dotcom bust.

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