Singer warns of trouble, eager to say ‘told you so’
Bloomberg/Katia Porzecanski and Nishant Kumar
Repost from 3-1-2021
Image courtesy of VisiualCapitalist.com
“Offering a curmudgeonly riposte to today’s raucous financial markets, the 76-year-old billionaire said in a letter to clients of his $42 billion Elliott Management Corp. that a ‘flamboyant line-up’ of excesses will come back to haunt investors. To Singer, who has long warned of an ugly end to the Federal Reserve’s easy-money policies, it’s all just a bit too much.”
USAGOLD note: Singer has long been a proponent of gold ownership. This article reports that Elliott (Singer’s investment fund) made money thanks to “a combination of portfolio-protection trades related to interest rates and gold, together with our core activities.” Given the billionaire’s mindset, we highly doubt he has given up on gold in this latest downtrend.