‘The Age of Financial Repression’ â€“ Morgan Creek Capital’s Mark Yusko says U.S. stocks are dead, invest in emerging AsiaBy Chris Clair
Mark Yusko, CEO of Morgan Creek Capital Management told attendees at the HedgeWorld East/PartnerConnect East conference last week that investing in U.S. equities is a thing of the past. Future growth will come from emerging Asian economies like South Korea.
“The press says that hedge funds are dead, everybody should get out of hedge funds â€¦ long-only lives forever. Long-only is the best way to invest. Over 20 years, long-only took you from a dollar to four dollars. Long/shortâ€”and this is the average long/short, this isn’t the good guys ’cause the good guys don’t even report â€¦ you made 12 times your money, not four times your money. And how did you do it? You did it by paying attention to the three rules of managing money: One, don’t lose money. Two, don’t lose money. And three, don’t forget the first two rules.”