Billionaire investor Paul Tudor Jones is doubling down on his stark market warning that the current market environment feels “exactly like 1999.”

Paul Tudor Jones Warns Of A Stock Market Blow-Off

The founder of Tudor Investment Corporation told CNBC on Tuesday that the “ingredients are in place” for a massive “blow off” rally, but cautioned it would be followed by a “really, really bad end.”

Speaking on ‘Squawk Box,’ Jones was unequivocal in his comparison: “It’s 1999… party like it’s 1999, right? It feels exactly like 1999.” He advised that from a trading standpoint, “you have to position yourself like it’s October of ’99,” referencing the period just before the Nasdaq doubled in five months.

However, Jones heavily stressed the need for caution, warning that investors must “have really happy feet because there will be a really, really bad end to it.”

This commentary forcefully reiterates a similar forecast Jones delivered on the