Jones dismissed current optimism from Goldman Sachs and observed that few market participants remember the 2000 crash, noting only 20% of 200 traders at a recent conference had active positions in 1999. Jones was one of the few investors to actively short the Nasdaq Composite Index during that era. He argued that the divergence between AI leaders and laggards now creates little value for long positions, making shorting the most viable strategy.
Tuesday, October 20, 2026
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Paul Tudor Jones Will Short All of 2027 Stock Market
US Markets7 days ago
A "two-speed market" has emerged where firms adopting artificial intelligence are diverging from all other equities, investor Paul Tudor Jones told CNBC. Jones plans to be short the stock market for the entirety of 2027, warning that current conditions mirror the peak of the 1999 dot-com bubble. He believes the coming year will be very challenging for the market, citing a looming "tsunami" of equity supply from IPOs and stock unlocks that add excess shares to the public float.
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