Let's review. He has 33 BILLION of other people's money and managed a whopping .4% return in the second quarter, which is probably a loss, if he is charging standard management fees. Then he comes up with this garbage:
On whether the labor market is tight: “Short answer: no,” Singer wrote. Long-term government benefit programs provide strong disincentives for people to work or even seek employment,
Sure.............. here in the socialist paradise of the USA, the government just floods the masses with all manner of entitlements, which totally chills the ole' "incentive to work". Heck, with the free heath care, child care, universal basic income, and free secondary education, I'm shocked that ANYBODY would waste time going to work. Oh, wait, I must of got lost, we Americans actually have none of that............my bad.
IMHO, I wouldn't risk my jar of loose change to this guy's firm. As for his claim that passive investing will destroy the market, just more bullshit from somebody who is trying hard to rationalize performance that falls below savings account interest levels, in a hot market.