Paul Singer: "Conditions In The Global Economy Are Clearly Abnormal"

Artificially manipulated markets at the hands of speculators or central bankers all are eventually likely to produce the same end result, and that won’t be pretty

“Conditions in the global economy are clearly abnormal,” Paul Singer wrote in his annual letter to investors, echoing a sentiment from many quant investment fund managers who observe what are historic – and often illogical – market statistics and correlations underneath the pleasant surface of a stock market. In fact, after several years this complacency has lulled people to sleep with its rising valuations against an uncertain backdrop has certain investment managers using returns reducing hedges.

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