Hedge-fund boss who predicted ‘87 crash says get ready for some ‘really scary moments’

https://ei.marketwatch.com/Multimedia/2018/03/01/Photos/ZH/MW-GE680_jones__20180301132023_ZH.jpg

Bloomberg

 

‘From a markets perspective, it’s going to be interesting. There probably will be some really scary moments in corporate credit.’

Paul Tudor Jones, a hedge-fund luminary, said he’s stress-testing his portfolio of corporate debt because he expects a tumultuous road ahead on the back of the Federal Reserve’s apparent commitment to normalizing interest rates and buttressed by corporate tax cuts from the Trump administration. Continue reading

Another Oligarch Preaches to the Peasants – Charlie Munger Says “Prepare for Harder World”

While several exceptionally wealthy and successful people have admirably come out and spoken passionately of the broken nature of financial markets and the political system, as well as the threat this poses to society in general (think Paul Tudor Jones and Nick Hanauer), there have been several examples of oligarchs coming out and conversely demonstrating their complete disconnect from reality, as well as a disdain for the masses within a framework of incredible arrogance.

The latest example comes from Charlie Munger, Warren Buffett’s right hand man, who tends to demonstrate an incredible capacity for verbal diarrhea. Recall his commentary on gold: “gold is a great thing to sew onto your garments if you’re a Jewish family in Vienna in 1939.”   Continue reading