Paul Tudor Jones

I'm not in favor of that.

And again, the reason why is it's the same reason my concerns are I see concentration risk everywhere I look.

Now we have individual investors with the highest equity allocation they've ever had in the history of the United States.

Really four times that of the rest of the developed world.

So I get nervous about that concentration.

I get nervous about the fact that we have 35 percent of the S&P is now concentrating seven stocks.

I get nervous about the fact that this administration, even if all those decisions were smart and correct again.

If you just think about the number one rule of portfolio management is you want diversification.

That's why our founding fathers created us as a democracy, not a monarchy, because you want that contestation of ideas.

So I'm nervous when I see

concentration virtually in anything, again, whether it's in the stock market, whether it's the composition of the stock market, who owns the stock market, or the decision-making that's getting made in Washington.

It makes me nervous because I don't think in the long run, right?

Even if all the decisions that President Trump is making are great, is that going to embolden the next president, who may not make as good of decisions, to do the same thing?

So I'll look at that, and again,

it raises caution flags for me.

I am, I wouldn't say I'm long at this second.

I'm clearly, again, I think there's such a confluence of possibly negative, possibly positive events.

I think I want to kind of wait and see where we are in a week or two time.

But my belief is that we'll be substantially higher by the end of the year.

I'll probably, so I think it's going to begin November 1.