Here’s a life tip: If someone called Masayoshi Son comes knocking on your door offering to manage your money anytime soon, don’t let him in. In fact, call the police and ask them to escort him from the premises. Here’s a guy who, as head of SoftBank and its two Vision Funds, decided to spend $135 billion in investment capital when asset prices were at their peak. Now, when prices have collapsed, Son is sobering up. In a video interview for SoftBank’s March-quarter update, Son said he wants to be “more careful when we invest new money.” 

Is he kidding? Son decides this is the time to be more careful, when tech stocks have fallen as much as 80%? With valuations down so much, this is when SoftBank should be letting loose. In fact, Masa Son acknowledged later in the interview that, given that he is a “long-term believer” in tech, “maybe it’s the right time to buy.” So what’s going on? Has Son been chastened by the brutal market sell-off, which caused SoftBank to report a staggering $26 billion in investment losses at the Vision Funds in the March quarter? Or was Son trying to calm investors worried about SoftBank’s debt, as The Wall Street Journal suggested?