The stock market going forward is unlikely to repeat the incredible rally since the depths of the financial crisis, venture capital and private equity pioneer Glenn Hutchins told CNBC on Friday. But there are compelling reasons to stay invested, he added.
"There's nothing to look at the stock market and say 'problematic,'" he said in a "Squawk Box" interview. "We're at a high level, but a reasonable level."
"There are good reasons to stay in the stock market and make money," argued the co-founder of technology investment powerhouse Silver Lake Partners, citing low interest rates in the U.S. and around the world.
While refusing to predict when the Federal Reserve might start hiking rates from the near-zero level, Hutchins, chairman of North Island, the holding company for his personal investments said: "Will you make some token moves to begin that process? Probably. But will they go to a point where it'll have negative feedback on markets? Almost certainly not."
Many economists have been predicting a Fed rate increase in the second half of the year.