- Banned
- #1
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A hedge fund manager who warned about the last financial crisis is seeing parallels of that run-up in the market today.
"I think it is a truly scary time," Andy Redleaf, CEO of $4.2 billion hedge and mutual fund manager Whitebox Advisors, said in an internal memo Sunday night obtained by CNBC.com. "
"Redleaf wrote that the stimulus used to put fresh money in markets could end poorly, just like loose credit standards in housing before 2007 crushed that market."
"We do not know exactly where all the credit creation of this cycle has gone. Certainly money sits idly as excess reserves, but just as certainly money that would not exist but for unconventional monetary policy has distorted prices and resource allocation," Redleaf wrote.
Hedge fund manager Andy Redleaf of Whitebox It s a truly scary time
One cannot just "create" 85 Billion dollars a month and expect it to end well.
A hedge fund manager who warned about the last financial crisis is seeing parallels of that run-up in the market today.
"I think it is a truly scary time," Andy Redleaf, CEO of $4.2 billion hedge and mutual fund manager Whitebox Advisors, said in an internal memo Sunday night obtained by CNBC.com. "
"Redleaf wrote that the stimulus used to put fresh money in markets could end poorly, just like loose credit standards in housing before 2007 crushed that market."
"We do not know exactly where all the credit creation of this cycle has gone. Certainly money sits idly as excess reserves, but just as certainly money that would not exist but for unconventional monetary policy has distorted prices and resource allocation," Redleaf wrote.
Hedge fund manager Andy Redleaf of Whitebox It s a truly scary time
One cannot just "create" 85 Billion dollars a month and expect it to end well.
