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“We operate in a near-zero interest rate environment, so it forces us to make other investments. The money goes to managers, and they are not always good managers. We have seen irresponsible behavior by institutional investors.”
More in-
The veteran investor later explained that he believes in the future of the technology industry, but he believes that the big money era is over. “There are too many bad players. If you are a mediocre plus player, in the current work environment you will not succeed. There is a lot to clean up, the market repair will take a few years to return to a basic, healthy and good starting position.” said.