Jimmy Lee: ‘The Biggest Sucker Bet’

Jimmy Lee, CEO of multibillion RIA/B-D Wealth Consulting Group in Las Vegas, says these investors have made the biggest sucker bet this year.

By Reuters

Jimmy Lee, CEO of multibillion RIA/B-D Wealth Consulting Group headquartered in Las Vegas, says that with the stock market up roughly 14% this year, those who have pulled out of long-term investments such as equities in favor of short-term government bonds, which yield roughly 5%, have made ‘the biggest sucker bet.’

While the current market rally has been led largely by megacap tech stocks, Lee notes that it is now showing “some more breadth in terms of companies participating,” such as small caps, giving “the investor community a little bit more confidence that this is going to be really a new bull market….”

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