According to the Financial Times a high-profile gathering
this week of some of the biggest names in the hedge fund world to share
investment tips quickly turned into a battle for the accolade of biggest bear.
The differences between the fund managers were in their
varying degrees of pessimism. The audience was left to ponder potential crises
in Japan , China , South
Africa , Canada ,
long-dated sovereign bonds, big global banks, even international finance
itself. Yet, underlying the different calls was one theme: the effects of
emergency action taken by governments and central banks since the global
financial crisis erupted five years ago. There was unease at the prospects for
economic recovery and concern that “quantitative easing” had artificially
boosted asset prices….
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