Holowesko won’t guess where that blow-up comes from, but he points out that we’re yet to see the inevitable valuation writedowns that private equity and venture capital sectors will eventually have to take.“That’s why I feel things are still really shaky, because we haven’t seen any of that private equity blow-out when people start selling.
“The biggest source of inequality in the world has been governments and central banks distorting asset prices to the benefit of those people who’ve owned assets. And I think it’s disgusting, quite honestly … it’s an embarrassment of riches.” Holowesko has a unique perspective in markets, in part because he and his team is based in the Bahamian capital of Nassau, well away from the Wall Street noise. A world champion sailor who represented Bahamas at the 1996 Olympic Games, Holowesko is heavily involved in the island life; a few days before our chat he was urging local government officials to explore opportunities in carbon credits.