Billion-dollar bubble? SoftBank ‘whale’ unnerves global markets

SourceZawya
SectorFinancial Markets
CountrySaudi Arabia

Some accused him of helping to overinflate share values to unsustainable levels, and cited last week’s big selloff in New York — led by declines in the market stars such as Apple and Amazon — as evidence that he had blown them up to such a level that some form of correction was inevitable.Others took the view that even an investor as big as SoftBank could not have that much influence on global markets, and that the real reason for the tech-led bubble was elsewhere — primarily in the incredible largesse of governments and central banks in their response to pandemic recessions.Nor is it clear that SoftBank made quite such a killing with its new strategy. According to reports, it made $4 billion in market profits from its speculative investments, ...read more...