The Survivalist News

Billionaire Mark Cuban: This Tech Bubble is Far Worse Than Back in 2000


What a week for Mark Cuban. Fresh off being tapped for the role of the president alongside Ann Coulter in the upcoming blockbuster “Sharknado 3,” the brash billionaire’s bearish forecast has landed him a spot in MarketWatch’s call of the day.

“If we thought it was stupid to invest in public Internet websites that had no chance of succeeding back then, it’s worse today,” he wrote in a blog post detailing the risks facing the current crop of angel investors and crowdfunders (more on that below).

He’s not alone in his fear-mongering. While retail investors are all-in, equity-wise, as are corporations, prophets of doom are counting the moments until the cards fall in the public markets, as well. The thing is, they’ve been counting them for years now. Check out the chart of the day for how long it’s been since we’ve felt a serious pullback. Spoiler alert: almost three years.

Doug Kass, president of Seabreeze Partners, has been anticipating some weakness for a while now, and he’s positioned himself to turn a profit when that day comes.

“Mr. Market is beginning to launch into the giddy phase, in which rose-colored glasses have replaced the camera with a stick — GoPro, which is now out of favor — as the most preferred accoutrement,” he wrote. “Nevertheless, despite the enthusiasm and extraordinary price momentum, I anticipate that my next move will likely be to meaningfully increase my short exposure.”

The shorts might have to wait another day to get paid. Stocks are setting up for a positive open ahead of Friday’s jobs report.

Key market gauges

Futures on the Dow YMH5, +0.45%  and the S&P ESH5, +0.13%  are perking up. Not so in Asia ADOW, -1.02% where the most of the major indexes sagged to a soft close after China’s growth forecast got a haircut . Europe SXXP, -0.28%  is well up as ECB Pres. Draghi lays out the plans for that 1 trillion euro bond-buying plan. We’re keeping track of his presser in a live blog here.

There’s no stoppingshawn the U.S. dollar DXY, -0.10%  lately. The greenback just passed through a technical threshold and took out another 11-year high against the euro EURUSD, +0.05% and it’s getting choppy as ECB Pres. Draghi is speaking. Crude is flirting with gains, along with gold.

This article is not the property of The Survivalist News to continue reading this article please visit the original post at:


Billionaire Mark Cuban: This Tech Bubble is Far Worse Than Back in 2000


Leave a Reply

Your email address will not be published.