BOSTON - Billionaire Paul Singer’s Elliott Management said global stocks could tumble more — ultimately losing half of their value from February’s high — as the world braces for the deepest recession since the 1930s-era Great Depression, according to a letter sent to clients on Wednesday and reviewed by Reuters.
The benchmark U.S. S&P 500 stock market index tumbled 36% over four weeks but reversed course and rallied 31% from the March 23 low, leaving it 16% below the high set on Feb. 19, Elliott wrote. It is also known for carefully protecting capital over decades with some of the industry’s best returns. Its Elliott International fund gained 2.2% in the first quarter while its Elliott Associates fund was up 1.6%.
Not Jim Bakker?
insidegame 35% close enough.
Without more stimulus.
pdacosta Hmm, sucks.
The U.S. stock market has been riding high with easy money for at least 5 years.-I wouldn't be surprised.
* so many tears * frankieknuckles
Someone is shorting the market.
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