Hedge Fund Manager Fears "Sudden, Pervasive Loss Of Faith" In Markets; Says "It's A Truly Scary Time"
First it was Sam Zell, warning "it's very likely that something has to give here." Then George Soros upped his market hedge drastically, followed by Carl Icahn's "worry about excessive money printing," adding that he was "very nervous" about US equity markets."Financial markets are euphoric," warned Stan Druckenmiller, warning that "market participants are pricing in hardly any risks," and Crispin Odey explained "there are consequences to CB actions," stating that "we have front-row seats to an imminent market shock." And now hedge fund manager Andy Redleaf (who predicted "there is going to be a panic in credit markets," in 2007) has come out with the most ominous of warnings yet among the billionaire crowd... "I think it is a truly scary time."
"Sometime in the next 12 to 18 months, there is going to be a panic in credit markets,” billionaire Andy Redleaf, a 50-year-old hedge fund manager, wrote to investors in December of 2007. "The driver in the credit market panic of 2007 or 2008 will be a sudden, profound and pervasive loss of faith in the alchemy of structured finance as currently practiced."
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