During my recent conversation with Peter Kraus, which was supposed to be focused on Aperture and its launch of the Aperture New World Opportunities Fund, I couldn’t help veering off into tangents about the market in general. Below is Kraus’ take on the availability of alpha generation, the Fed, inflation vs. Amazon, housing, the cross-ownership of US equities by a few huge funds and high-frequency trading.
Gregg Schoenberg: Will alpha be more available over the next five years than it has been over the last five?
To think that at some point equities won’t become more volatile and decline 20% to 30%… I think it’s crazy. [...]