The Billionaires Are All Quietly Preparing For The Stock Market To Plunge
Billionaire 1: Sam Zell
“The stock market is at an all-time high, but economic activity is not at an all-time,” explains billionaire investor Sam Zell to CNBC on Thursday morning.
“People have no place else to put their money, and the stock market is getting more than its share. It’s very likely that something has to give here.”
“This is the first time I ever remember where having cash isn’t such a terrible thing, despite the fact that interest rates are as low as they are,” he added.
Billionaire 2: George Soros
Soros has once again increased his total SPY Put to a new record high of $2.2 billion, or nearly double the previous all-time high, and a whopping 17% of his total AUM.
Billionaire 3: Carl Icahn
Ironically, Carl Icahn — poster-child of the leveraged financial engineering that has overtaken U.S. equity markets on the back of Central Bank largesse — told CNBC that he was “very nervous” about US equity markets.
Reflecting on Yellen’s apparent cluelessness of the consequences of her actions, and fearful of the build of derivative positions, Icahn says he’s “worried” because if Yellen does not understand the end-game, then “there’s no argument — you have to worry about the excessive printing of money!”
Billionaire 4: Stan Druckenmiller
Simply put, Druckenmiller concludes, rather ominously: “I am fearful that today our obsession with what will happen to markets and the economy in the near term is causing us to misjudge the accumulation of much greater long-term risks to our economy.”
Source: businessinsider
