From AI hype to market cracks: Ranmore's Sean Peche warns of a looming US unravelling - BNIC#2 Q&A

At BNIC#2 in Hermanus, Ranmore Fund Management's Sean Peche delivered a sobering warning on global markets, arguing that the US is in "injury time" as passive funds distort valuations and private equity exits stall. He cautioned that while AI is real, history shows revolutionary technologies rarely translate into long-term shareholder wins. Peche pointed to Bitcoin hype, stretched US mega-cap valuations, and the dangers of performance fees, while outlining Ranmore's disciplined approach: focus on value, diversify globally, reduce client fees as the fund scales, and stay humble. His message — don't get swept up in stories, pick the losers, and always be able to sleep at night.

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