Paul Singer, the outspoken hedge fund manager at Elliott Management, will not disappoint when he speaks in Davos, Switzerland at the World Economic Forum this January 22 at about 9:45AM EST. In fact Paul Singer’s speech and later debate on the topic “Are Markets Safer Now?” is expected to shake the very foundation of the elite event, according to a letter to investors reviewed by ValueWalk. The topic was briefly mentioned in Singer’s Q1 2013 shareholder letter.
Make sure to sign up for our free newsletter to catch all the coverage.
Based on a rough outline of Paul Singer’s remarks reviewed by ValueWalk, the seventy year old activist investor will pull no punches as he will dismantle the notion of global financial stability and tear right into unregulated derivatives which he asserts are likely to be at the heart of the next economic crisis.
“We can only assume that the reason the global financial system is still… overleveraged, opaque, reliant upon the implicit and explicit support of governments for its very existence… is that fixing the problem would be too painful for powerful special interest groups,” the rough draft says, setting up for the next warning and pointing to government bailouts and the political lobbying machine that ensures they remain intact.
Please login to view the rest of this article - Not subscribed? Get our adfree exclusive content for only a few dollars a month.
It also helps us fund our operations so think of it as supporting quality journalism.