What Happens When “Dry Powder” Meets Liquid Markets?

Published on
January 31st, 2020
50 minutes

What Happens When “Dry Powder” Meets Liquid Markets?

Real Vision Essential ·
Featuring Josh Wolfe and Michael Green

Published on: January 31st, 2020 • Duration: 50 minutes

Why is it that equity returns are at record-highs – and yet beating the market is harder than ever? Josh Wolfe, co-founder and managing partner at Lux Capital, sits down with Mike Green, chief strategist and portfolio manager at Logica Capital Advisers, to explore this question. After Wolfe discusses a few of his recent successful venture exits, the pair discusses how excessive liquidity is making it harder to deploy capital, a process Green calls "alpha-degradation." Other topics include Tesla, Bloomberg, and the "first-mover disadvantage." Filmed on January 23, 2020, in New York.