Forget Icahn, this big hedge funder loves boards

John Burbank, Passport Capital
Rick Wilking | Reuters

Carl Icahn and other corporate agitators may think many American boards are terrible, but at least one prominent hedge fund manager thinks they've never been better.

"I've never seen it so good in terms of the nondelusional, sober mindset of American business people," said John Burbank, founder of $4 billion hedge fund firm Passport Capital.

"We should feel really the best you ever felt about the state of boardrooms in America and how they're thinking about the future," Burbank added while speaking at the Alpha Hedge West conference in San Francisco on Monday. "U.S. equities have this incredible quality: good [capital expenditure], good governance and leading innovation. It's hard for me to paint a bearish case for U.S. assets."

He said this would be "the decade" for U.S. stocks.