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Posts tagged as “depression”

Global Fund Managers See “Extreme Investor Pessimism”

Bank of America’s survey of global fund managers showed “extreme investor pessimism” regarding cash held to the bleak outlook they hold for the global economy.

Paul Singer’s Elliott Management said global stocks might lose half or more of their value from the high reached in February, predicting a 1930s-esque Great Depression. In a letter to clients, the New York-based hedge fund wrote that the sharp market decline seen between late February and late March “provided a heavy bookend to a dozen years of basically nonstop positive returns in global stocks, bonds, and real estate.”