'We're definitely in a bubble': A hedge-fund chief overseeing $2 billion explains why he sees a 40-60% crash looming — and a lost decade ahead for stocks
"Here we are 11 years into an economic expansion and we're still using tools as if we're in the depths of the global financial crisis," he said on the investing-focused "." "That's because the banks are fragile and there's too much debt in the system."
Today, he's seeing this same scenario play out in Japan and Europe. Both countries' central banks have slashed rates and implemented stimulus programs. He continued: "The fallacy of that logic is if interest rates are falling, that means future growth is going to be lower, future profits will be lower. You should actually pay a lower multiple. But nobody thinks like that."
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