Billionaire investor Jim Mellon: This is the start of a ‘very major’ correction

MarketWatch/Shawn Langlois/6-19-2018

“There has been far too much complacency, far too much buybacks by corporations of their stock which have supported the market, far too much concentration of ownership, particularly in tech stocks in the U.S. And it’s time for a very major correction, which is I think what we’re embarking on.”

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