Pursuits
The Hedge Fund Manager Betting Soros Is Wrong About China
- Impala hedge fund manager says economy `already had the crash'
- Fund, with $2.2 billion, said to post 2% gain in first quarter
George Soros Warns Over China's Debt
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Bob Bishop, who once ran investments for billionaire George Soros, is betting his former boss is wrong about China. The world’s second-biggest economy has had its hard landing and is on its way up, according to Bishop.
Rising infrastructure spending, steel production and demand for metal and heavy-duty trucks are signs of improvement for the nation’s industrial and manufacturing sectors, said Bishop, a former chief investment officer at Soros Fund Management who runs $2.2 billion hedge fund Impala Asset Management. Soros said last week that China resembles the U.S. in 2007-08, when credit markets froze and triggered a global recession, and that its banking system is increasingly unstable.