Welcome to the bandwagon, losers: The Dark Lord of Hedge Funds has seen this coming for years (four years, to be precise, give or take). And he also had an inkling about that thing that may or may not be bringing it about.
On Feb. 1 -- a month and a half before New York imposed a statewide lockdown to reduce the spread of the virus -- Singer told employees of his $40 billion Elliott Management Corp. they should prepare for a monthlong quarantine…. “We recommend that all employees, in all offices, try to make arrangements so that you do not have to leave your home for a month if that becomes necessary,” Singer, who’s known for his pessimistic outlook and warnings on everything from market crashes to solar storms, said in the February memo…. Singer said employees should focus on “access to sufficient food, water and medicines (China is a significant manufacturer of medicines, so you might want to ensure that you have enough of what you need for several weeks), as well as any other arrangements you need to take now” to avoid having to be in public places.
Paul Singer Warned Employees on Feb. 1 to Prepare for Quarantine [Bloomberg]
Asset manager Unigestion warns of a huge selloff forecasting a global financial crisis-level recession [MarketWatch]
Ray Dalio: ‘We’re Heading Into A Great Depression’ [Forbes]