Hitch
15th September 2016, 04:32 PM
http://www.moneyandmarkets.com/forget-alpha-billionaires-deliver-bedlam-warnings-instead-81819?em=invest%40dieverts.com&utm_campaign=MAM3595a&campid=55676&utm_medium=email
Yesterday was CNBC’s annual “Delivering Alpha” conference at the Pierre Hotel in New York City. It brought together billionaire hedge fund managers, corporate raiders, pension fund investors, and current and former Treasury Secretaries.
But rather than serve up a bunch of bullishness or juicy stock tips, the billionaires who attended delivered warnings of bedlam instead!
Ray Dalio, chairman of the world’s biggest hedge fund, Bridgewater Associates (with $150 billion under management), said: “The risks are so much more on the downside” that the Federal Reserve can’t raise rates, adding “we’ve never been in a world that’s like this.”
Paul Singer, founder of the $27 billion hedge fund firm Elliott Management, was even gloomier, saying: “Eight years of ever-declining rates and ever-increasing radicalism in other monetary policies have not created a sustainable, accelerating uptick in growth. What they have done is created a tremendous increase in hidden risk … I think it’s a very dangerous time in the global economy and global financial markets.”
Dire warnings for the markets.
Billionaire Carl Icahn sounded yet another alarm when he took the stage, saying: “You look at the environment, and I think it’s very dangerous. You’re walking on a ledge and you might make it to the end, but you fall off that ledge and you’re really going to see trouble.” Icahn added that it doesn’t really matter whether the Fed hikes rates this year or not next year, “because either way there’s a problem.”
These aren’t the first such warnings from noted billionaires or fund managers, of course. Icahn has been saying for the past year that stocks are in big trouble. What’s different is the frequency, urgency, and magnitude of the warnings.
Yesterday was CNBC’s annual “Delivering Alpha” conference at the Pierre Hotel in New York City. It brought together billionaire hedge fund managers, corporate raiders, pension fund investors, and current and former Treasury Secretaries.
But rather than serve up a bunch of bullishness or juicy stock tips, the billionaires who attended delivered warnings of bedlam instead!
Ray Dalio, chairman of the world’s biggest hedge fund, Bridgewater Associates (with $150 billion under management), said: “The risks are so much more on the downside” that the Federal Reserve can’t raise rates, adding “we’ve never been in a world that’s like this.”
Paul Singer, founder of the $27 billion hedge fund firm Elliott Management, was even gloomier, saying: “Eight years of ever-declining rates and ever-increasing radicalism in other monetary policies have not created a sustainable, accelerating uptick in growth. What they have done is created a tremendous increase in hidden risk … I think it’s a very dangerous time in the global economy and global financial markets.”
Dire warnings for the markets.
Billionaire Carl Icahn sounded yet another alarm when he took the stage, saying: “You look at the environment, and I think it’s very dangerous. You’re walking on a ledge and you might make it to the end, but you fall off that ledge and you’re really going to see trouble.” Icahn added that it doesn’t really matter whether the Fed hikes rates this year or not next year, “because either way there’s a problem.”
These aren’t the first such warnings from noted billionaires or fund managers, of course. Icahn has been saying for the past year that stocks are in big trouble. What’s different is the frequency, urgency, and magnitude of the warnings.