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Howard Marx, the billionaire investor who was blocked, the billionaire investor who was blocked debt, says the result achieved by the shares of assets managers and other companies in which the NVIDIA defeat on Monday was caught, “The irrationality is in the markets.”
The co -founder of the Oaktree investment company, which has $ 205 billion assets, said on Tuesday that it is unusual to be Sell AI-moving it On the previous day, which I spoke from Dibsic in China, it also achieved a wide range of other companies, including Brookfield of assets that have a majority share in Octry, and competitors such as Apollo Global, KKR and Blackstone.
“If it is just objective, clinical investors, they do not look at it Nafidia “There will be no reason to news yesterday to all these other things,” he said. Signs At the Global Alts 2025 conference in Miami. “It only shows the spread of psychology and market rationality in the short term.”
The calm of the market on Monday, which took out nearly $ 600 billion in the market value of NVIDIA and sent the shares of some of the largest asset managers in Wall Street, led to the feeling of uncomfortable at the beginning of the annual Als conference, which holds many heavy weights. A lot of bets on chips who are running Amnesty International RevolutionTilt their governor in recent months towards high -growth stocks.
“This is what is happening in a bubble,” said Marx. “Everything swings mainly towards optimism, greed and risk tolerance, but we are supposed to be afraid to lose money, and our customers. But bubbles go to where they go because (fear of loss) takes care of the fear of losing money.”
Many asset management giants are greatly vibrating with the needs of the prosperous artificial intelligence complex, investment in real estate to accommodate computers and servers, and facilities that operate these data farms, and subscription loans for artificial intelligence companies and chips.
Marx's perspective is mainly monitored in Wall Street mainly through the notes of his intermittent agent, which obtained wide followers. His notes in January 2000 called “Bubble.com” cast him into the spotlight. In this, he said that there is an “overwhelming” issue of “a feverish speculative market in the shares of technology, the Internet, and the telecommunications.”
Marx's comments on Tuesday followed a letter from the head of the Lobby Group in the American hedge fund industry, which struck an optimistic tone on the new Donald Trump administration and overcame the head of the Securities Committee and the former Stock Exchange Gary Ginsner, who suggested the rules to increase the organization of private stocks and hedge funds.
But Marx told the attendees that there is much lower certainty during the Trump era and many policies that the new administration was pushing was “contradicting each other.”
“I don't know if the administration members can predict what they will do after a year from now. He said,” I definitely know that I cannot. “I don't think you can give a common thread that passes through these activities, unlike the institution's hatred.”
