GMI’s Raoul Pal Predicts Stock-Market Crash Amid Debt Defaults
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Global stocks are set to slump in a repetition of the 1929-1933 market crash as the breadth of selling intensifies amid a sovereign-debt crisis, according to Raoul Pal, the former GLG Partners Inc. fund manager currently writing the Global Macro Investor strategy sheet.
“I am actually now so nervous I can’t sleep at night,” Pal, who also worked in hedge-fund sales for Goldman Sachs Group Inc., wrote in the latest GMI issue, distributed this week. “I get these feelings rarely. I am not lying when I tell you I have only felt like this in 1994, 1997/8, 2000 and 2007.”