Morgan Creek Capital CEO Mark Yusko joined CNBC's 'Fast Money' program. In an interview, Yusko said he likes oil services such as Halliburton and Schlumberger. Talking about other things in the long run, Yusko said; He also talked about gold miners, gold and gold stocks, and emerging technology companies. The entrepreneur also stated that Morgan Creek Capital holds "a reasonable amount of cash".
Although the U.S. Federal Reserve has prevented another stock market crash by expanding its corporate bond buying program, Yusko is not optimistic about the performance of US stocks. The Fed is devaluing its currency, so the stock market has been moving steadily since October 2018, while Bitcoin and gold rose more than 50 percent. Yusko says that despite the increasing nominal prices, the real value of assets has decreased. According to Yusko, his fund is about 50/50 long and short. He is still betting against traditional retail and "really overvalued" technology and software companies.
"There are companies that sell 20-30 times."
No need for another Cold War
Yusko says he also supports Chinese technology companies such as Alibaba and Tencent. While US lawmakers are pressuring Chinese companies to take their shares off Nasdaq and NYSE, they do not see much threat.
“We have watched this movie before. There are a number of companies that voluntarily list, such as WuXi (biopharma), to achieve a better valuation in the Hong Kong market or the stock market in Shanghai. ”
Yusko described the "Cold War 2.0" as a mistake against China, claiming that the two countries should cooperate rather than fight.
