I'm mostly surprised that someone can so consistently and repeatedly demonstrate an inability to filter information he receives and still be trusted with LPs' money. It's another form of Gell-Mann amnesia.
Rich guys are mainly incompetent. They'll tell you they're rich because of meritocracy, but I've found that too much money has the opposite effect. You end up surrounded by yes-men and can buy your way out of any failure, so your skills (if you ever had em) atrophy.