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Need to Know: Why the ‘first sign of greed since Great Recession’ could be awful for bitcoin — but great for stocks

Federated Investors portfolio manager Steve Chiavarone’s prediction about this bull market was ringing pretty loudly a few months ago.

Back in November, Chiavarone said this bull market has at least 10 years left to run, thanks to a big move by millennials into equities.

“The risk is not being in this market,” Chiavarone said at that time, when his firm’s price target was for 2,750 on the S&P by the end of 2018 and 3,000 for 2019.

Over the weekend, Chiavarone was back at the prediction wheel, with a CNBC interview in which he highlighted the mountain of greed out there, chiefly in cryptocurrencies.

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