by Shawn Langlois
‘Is it frothy? You can definitely make that argument. Is it like 1999? No.’
That’s billionaire Mark Cuban sounding off on the current state of the stock market during CNBC’s “Fast Money Halftime Report” on Wednesday.
“Interest rates were a lot different back then,” he continued. “And you saw a lot more people participating in the market… You don’t see that now… individual daytrading really led the market to be frothy.”
Cuban said that, with so much money pouring into index funds, the landscape is completely different from back then. “As long as those funds keep on growing the market is going to go up,” he said.