Wild Market Ride Lifts Everything From Lumber to Stocks to Bitcoin

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“This is very different to any other bubble that we’ve had ever.” Markets’ wild ride higher has even the most seasoned investors throwing up their hands.

Markets for everything from home-building materials to bitcoin to stocks are soaring, stirring up fresh fears that global markets are in a bubble.all-time highs

The frenzy has extended far beyond conventional markets tracked by Wall Street firms. Bitcoin hurtled above $60,000 for the first time last month before pulling back, while Dogecoin briefly jumped to a record, driven by fans posting hashtags like #DogeDay on Twitter.

Wall Street has seen this movie before. Investors’ excessive exuberance across a variety of assets has stirred comparisons with the heady days of the Roaring ’20s. The lofty valuations of technology stocks have also made for easy comparisons with the dot-com boom and bust two decades ago.Do you have any concerns regarding the current frenzy in global markets? Join the conversation below.

“If we hit a low-confidence phase and they all go together, they will [inflict] more pain on the real world,” Mr. Grantham said.

 

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