The market rollercoaster continues, with many surprised at how quickly everything crashed. However, Paul Singer of Elliott Management questioned why investors were surprised at all, given how high valuations had gotten before the COVID-19-related crash.
Q1 2020 hedge fund letters, conferences and more
Passive investing
In his April 16 letter to investors, which was reviewed by ValueWalk, Singer pointed out that passive investing isn't really money management. He said investors "get away with" delegating all their investing decisions to indices "as long as the asset classes rise...
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