You hear it. You hear it from the nobodies. You hear it from the low-energy whiners. You hear it from the paper-pushing haters.

Stan Druckenmiller said the risk-reward calculation for equities is the worst he’s seen in his career, and that the government stimulus programs won’t be enough to overcome real world economic problems…. “I pray I’m wrong on this, but I just think that the V-out is a fantasy,” the legendary hedge fund manager said, referring to a V-shaped recovery….

In the future, he said he wouldn’t be surprised if the Trump administration’s response to the coronavirus outbreak becomes the “poster child for the worst public policy decisions ever made from a cost-benefit analysis.”

You hear it from the losers who hate America and want it to fail.

“For the year I think you’re going to see U.S. GDP down somewhere between 7% to 10% in real terms,” as a result of the COVID-19 pandemic and the government’s efforts to contain the spread of the virus with business shutdowns, and “10% is an economic depression,” said the founder of hedge fund Hayman Capital Management, in an interview.

Well, President Trump is hearing it, too. And he knows these people, because he is a so-called rich guy, too. And just as with his own pronouncements and those of his always spot-on economic team, you’ve got to remember that the things they say are often very self-serving, unfair and untrue.

Ah, yes, the barely legal: Another topic on which the president is an expert from experience.

Trump warns that ‘rich guys’ could be talking down stock market to profit [CNBC]
Druckenmiller Says Risk-Reward in Stocks Is Worst He’s Seen [Bloomberg]
Investors should prepare for a U.S. ‘economic depression,’ warns Kyle Bass, but China’s fate could be even worse [MarketWatch]

Related

Druckenmiller

Stan Druckenmiller Has A Lot Of Problems With You People

You people being Donald Trump, Bernie Sanders and pretty much everyone in Washington.

Hot rod Bill Ackman.

Look Who’s The 391st Richest Person In America

He’s not as rich as Carl Icahn yet, but Bill Ackman will almost certainly outlive him.

Kyle Bass Crusader

Kyle Bass Thinks There’s A Place The Coronavirus Could Do Some Real Good

The hedge fund manager’s distaste for the Chinese Communist Party is deep and strong.

By SteeleatHaymanCapitalManagementLP (Own work) [CC BY-SA 4.0], via Wikimedia Commons

Kyle Bass Joins The Circus

If a clown U.S. president is what it takes to pop the Chinese bubble, so be it.

By SteeleatHaymanCapitalManagementLP (Own work) [CC BY-SA 4.0], via Wikimedia Commons

Kyle Bass Explains It All, But Mostly He Explains China

But he really did say some stuff about some other things, too, if you’re interested.

Kyle Bass Crusader

Kyle Bass Mounts Dragon, Prepares To Burn Chinese Economy To The Ground

But in case he doesn’t make it, he’s not taking his yuan short with him.

By Dong L. Zou (http://www.ccs.neu.edu/home/sondoua/wallpaper/) [Public domain], via Wikimedia Commons

Harry Markopolos Is Walkin’ The Fraud Beat In Beantown

He’s Boston’s (very) privately paid-for one-man anti-Madoff unit.