As hedge fund manager Paul Singer cracks down on who accesses Elliott Management’s quarterly investment letters, the manager of the $27 billion fund also wonders if those who managed a “radical monetary” program will similarly “allow” markets to decline in any serious way. In the Elliott Management second quarter investment letter, reviewed by ValueWalk and first reported by the Wall Street Journal, Singer tackled many topics including market manipulation and hedging risk as a market “tear” approaches year seven of uninterrupted prosperity.

Paul Singer Elliott Management second quarter investment letter

Elliott Management second quarter investment letter asks: Will “free markets” actually be “allowed” to decline?

As “free market” advocates in the western world wag a finger at China, lecturing them about market manipulation, are the Chinese, behind the scenes, wondering about U.S. market manipulation? This topic of U.S. manipulation is one Singer and others have previously addressed addressed in appropriately dulcet tones.

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It is an odd world where the death of “free markets” just might be occurring with little discussion or notice on the topic, particularly as central bank quantitative manipulations, which Paul Singer and other insiders have previously addressed, receives scant attention. Controlled free markets, cats sleeping with dogs and “short sellers reportedly going long,” it all plays into a narrative.


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