“ ‘Our gut tells us that a 50% or deeper decline from the February top might be the ultimate path of global stock markets.’ ”
Reuters reported that the activist investor, who manages some $40.4 billion, issued a Wednesday letter to investors that offered a grim outlook for the economy and recommended purchasing gold, even as a number of countries attempt to lift strict stay-at-home measures intended to slow down the spread of COVID-19, the disease derived from the novel strain of coronavirus that was first identified in Wuhan, China in December.
The comments from Singer’s hedge fund, which was founded in 1977, comes as investors appear heartened by some signs of progress in a drug to treat COVID-19 and guidelines issued by President Donald Trump to reopen the economy in the near future.
Yes, listen to Singer, dump your stocks and crash the market. Then watch as he buys up all your shit and sells it in a year for massive profit.
Yes and actions such as Singers, the fallout in Sidney Nebraska where 2000 American jobs were lost in a deal HE FCKING FORCED merely help to push towards recession. Paul Singer is trash. Good thing he has a lot of money.