Paul Singer Ira Sohn coverage brought to you by ValueWalk.
Paul Singer is Founder and President of Elliott Management Corporation, a New York–based trading firm. Launched in 1977 with $1 million of capital, total AUM for the Hedge fund is now at $21.8 billion. Singer has been in the news over his multi billion dollar feud with the Government of Argentina. As of late, Paul Singer has been shorting some European companies. Paul Singer recently spelled out the bull case for gold amid a plunge in the price of the commodity. He also listed his fear over the fate of Europe noting:
Odey Asset Management's Special Situations Fund was down 3.2% in March, compared to its benchmark, the MSCI World USD Index, which was up 3.3%. Through the end of March, the fund is up 8.7%, beating the benchmark's return of 4.9%. Q1 2021 hedge fund letters, conferences and more Odey's Special Situations Fund deploys arbitrage and Read More
The fact that there is not a bank run, trot or walk right now is absolutely no indication that depositors will keep their money in European banks in the near-, medium- or long-term. We imagine that this thought process is occurring in the minds of thousands, or hundreds of thousands, of European depositors right now.
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Paul Singer Ira Sohn Conference Live
12:07 PM EST: Paul Singer is the first speaker of the day, he’s going to talk about sovereign debt.
12:10 PM EST: Singer says that developed countries have long term insolvency, that includes the United States.
12:15 PM EST: Singer is worried about banks, he thinks that the decision to use monetary policy to beat recession was right short term, but its bad for the economy now.
12:19 PM EST: Central banks should not be at the center of things right now. They’ve go too much power and it’s unsustainable.
12:21 PM EST: The world needs growth that isn’t related to monetary policy, that means QE. QE is hiding debt problems and unemployment.
12:23 PM EST: Bonds are distorted by monetary policy, when QE ends there will be a reckoning. There’s no safe assets in the current economy according to Singer.