returns

“Any time you have an influx of capital into any asset class, just a sheer volume of capital coming in much more by a multiple, usually what you see is returns degrade.”

“That greed is the number one enemy of returns and, you know, being greedy and kind of expanding your fund or expanding your strategy into multiple different things that maybe you're not the best at probably is, you know, short-term profitable, but sort of long…”

“Anytime you see capital flowing into something, you should worry about returns. That's just, that's like a basic rule.”

“And, in fact, all the returns are somewhere between 80 cents and one dollar 20 on the dollar.”

“The capital is definitely massively eroding the returns.”

“In the end, the only thing that matters is returns. The only question is how long does in the end take? We're in an industry which has very long reaction cycles. You know, you put in the money, you don't get single for five years, you don't figure it out for s…”

“I think a lot of funds are going to have terrible returns because a lot of early stage funds are going to swing so hard for the fences that they're going to invest in the number three or the number four and get just zeros after zeros because there isn't a chan…”