Paul Singer: Big Trouble Ahead For Pensions And SWFs
Excerpted from Paul Singer Elliott Management Q1 letter to investors.
These are two large classes of global investors that may provide powerful and not necessarily welcome dynamics under some market circumstances.
Sovereign wealth funds represent money owned by nations and invested in securities and other assets located generally outside those nations. With trillions of dollars of assets, they have emerged as significant investors in a relatively short period of time. Their appetite for variety in investing has also grown, and . . .
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