Paul Singer Warns Hedge Fund Crowd That Bear Market Still Lives
- Billionaire says 20% drop isn’t enough after easy-money era
- Stocks have rebounded in 2023 as central banks slow tightening
This article is for subscribers only.
Paul Singer, the billionaire founder of Elliott Investment Management, warned a room of hedge fund managers and large investors that there’s likely to be a disorderly unraveling of markets.
Singer said the bear market isn’t over and that a drop of 20% is likely not enough, according to people familiar with the discussion at the Managed Funds Association conference this week in Miami. The billionaire added that more than a decade of aggressive monetary and fiscal policies can’t be unwound in a year, said the people, who asked not to be identified describing a private event.