While Glenview’s Larry Robbins sees value in the US Federal Reserve’s five year zero interest rate policy, Paul Singer, ever the risk manager, is considering how punch drunk the party might have gotten. The question to be answered is: how angry are party participants going to become when the free punch bowl is replaced by actual market forces. “By all measures, the U.S. stock market is currently frothy,” Singer proclaims, as he glances with “amazement” at the “Fed’s magic act” of using manipulative policy tools of purchasing debt like a high frequency trader sells stocks to create downward price momentum…
Paul Singer Warns of Social Unrest if Inequality Unaddressed
Mark Melin
Mark Melin is an alternative investment practitioner whose specialty is recognizing the impact of beta market environment on a technical trading strategy. A portfolio and industry consultant, wrote or edited three books including High Performance Managed Futures (Wiley 2010) and The Chicago Board of Trade’s Handbook of Futures and Options (McGraw-Hill 2008) and taught a course at Northwestern University's executive education program.
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