Billionaire Bill Gates says on Tuesday he sees the stock market as "expensive."
The Dow Jones industrial average is nearing the 20,000 level, swept up in the powerful rally since Donald Trump was elected president last month."Certainly stocks are expensive," the Microsoft co-founder said.
He said he's amazed that interest rates have "stayed so low, for so long." "When do we go back to normal in terms of interest rates [and] multiples, there would be a lot of adjustment there," Gates predicted. "Stocks are higher because of the interest rate environment."
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