Baupost boss Seth Klarman warns bull market won't last, hoards cash - Business Insider

A hedge-fund billionaire nicknamed the "Oracle of Boston" for his similarities to Warren Buffett is hoarding cash and warning the bull run won't last.

"The rocket fuel that has propelled markets in 2019 will run out," Seth Klarman wrote in his annual letter to investors last week, according to Bloomberg, which reviewed a copy. Baupost made a return of less than 10% in 2019, Klarman told his investors. He blamed "conservative positioning, the continuing underperformance of value equities, the persistence of a generally lackluster opportunity set, and a few mistakes," Bloomberg said.

Does he know WHEN?! That is the only important answer!

Pretty sure it's all doom and gloom with you guys with trump in office

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Ray Dalio warns 'cash is trash' as Warren Buffett sits on $128 billion - Business InsiderThe founder of the world's biggest hedge fund argued a weaker dollar and growing money supply would erode the value of cash. Oh, but last year he mostly opened shorts and that's why his hedge fund underperformed the S&P500.
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