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The wave of momentum investing sweeps Wall Street, and the old bond king Gross calls for vigilance.
Bitcoin surges, meme stocks rebound for no reason, and put bets are generally losing. For observers unfamiliar with Wall Street's long history, the market frenzy of 2024 seems fresh and dangerous. However, to 80-year-old Bill Gross, this frenzy sparked on the margins of the usa market has been a part of investors' lives since before he was born. "Will rogers has a famous saying: 'Don't gamble, invest all your savings in some good stocks, hold them patiently for the long term until they go up before selling. If a stock doesn't go up, then don't buy it,'" said the retired co-founder of the pacific Investment Management Company.
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