Wealthy investor Mike Novogratz says the days of making easy money on Wall Street are coming to a swift end and he sees more pain in store for stock-market investors in coming months.

“I look at the stock market and it is just starting to correct and that worries me more,” he said in a 25 January interview, as he attended an event in Miami, Florida, where he also said: “I’m still a true believer but it’s time for sobriety”, referring to crypto.