“I am not afraid of treasurys but if my accountants would allow me I would be 100 percent in equities.
“Equities are historically cheap, but people are still going out of equities and paying 2 and 20 (for hedge fund exposure) and hoping for better returns than on equities.
“Anything earning 3 percent or lower is the dumbest thing you can do,” he added. “If we went on holiday four years ago and came back better human beings with a tan, markets would still be back where they were four years ago.”
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