Bill Gross Is On the Alert as Momentum Mania Sweeps Wall Street
- Bitcoin and speculative stocks soar while bearish bets flop
- Suspicions are growing that market froth is running rampant
Bill Gross
Photographer: Patrick T. Fallon/Bloomberg
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Bitcoin rallying to the moon, meme stocks surging for no good reason, bearish bets cratering all at once.
For observers without a sense of Wall Street’s long history, the great market mania of 2024 seems new and dangerous. To Bill Gross, who turned 80 this year, this kind of frenzy at the fringes of American markets has been a fact of life for investors since before he was born.