Glenn Hutchins of Silver Lake Says Market May be Overbought

Silver Lake's co-founder Glenn Hutchins appeared on CNBC earlier and gave his outlook on the markets. Hutchins said that he though the market was a bit overbought, and that he believed investors were getting a little too exuberant. He stated that investors should be careful about what they are buying at the present time, and that it might be prudent for investors to sell their mature postions. In terms of tech--an area Hutchins is renowned for investing in--he stated that the trend towards wireless broadband is the biggest trend in the history of tech. He stated that investors should buy the best tech companies and hold them for a long time. On a bigger scale, Hutchins stated that access to debt capital is currently an extraordinary opportunity. On IPOs, he stated that the process is very important for the market. He said that tech IPOs encourage investment, as angle investors become willing to fund new ventures in the hopes that they will be able to access the market later.