Hedge Funds

Hedge funds lament wealth inequality, slowed growth, short-termism

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At the Milken conference, Peter Thiel, Dan Arbess and Ben Funnell discussed investing in a historical context.

 Peter Thiel
LOS ANGELES -- Hedge fund managers at the Milken Institute's Global Conference shared concerns that overly short-term investment mandates, growing wealth inequality and a historic decline in optimism had become serious barriers to investment.

Peter Thiel, founder of $138 million macro hedge fund firm Clarium Capital Management, said one of his worries is a misguided investor focus on immediate returns and liquidity.

"Long time horizon investments are incredibly out of fashion. Anything that takes more than a decade to build is not getting invested in. Event more than two years," said Thiel,