Paul Singer Warns On Possibility Of ‘Tremendous’ Inflation ‘Surprise’

Paul Singer Warns On Possibility Of ‘Tremendous’ Inflation ‘Surprise’

As regular readers know, I enjoy lampooning industry "legends" in these pages. Actually, "lampooning" isn't always accurate, as that carries a negative connotation. In most cases, I'm just having fun at the expense of people whose reputations (and certainly wallets) can afford it. Most of them are easy targets because, whether they realize it or not, they have a publicity hound streak which the media is more than happy to indulge. I have a formidable (some would say unrivaled) knack for biting
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5 thoughts on “Paul Singer Warns On Possibility Of ‘Tremendous’ Inflation ‘Surprise’

  1. I find it hard to disagree with Singer or Kocic on this issue . All paths lead to Monetization and thus we always come back to The Modern Monetary Reality which is deeply intertwined in ideology . Every action has it’s consequences and thus (by definition) can be positive or negative so I look to History for help….

  2. Great article and coverage of the interview.

    I listened to it last night.

    Mr. Singer is another one of the vaunted “investors” who we should all be glad to see retire into the sunset. He is emblematic of the broken system for capital allocation. And, broken monetary policy. He just gamed it. He is no visionary. After listening to the interview, I have even less confidence in his wanting to leave the world a better place than he found it.

    From personal, first-hand experience, here is how his firm operates: Leverage information available to the connected elites. Target identified. Buy a chunk. Get seat on board. Be vocal about waste and return of shareholder value. Start stripping firm of waste, strip of capital used to grow the business, borrow at low rates, repurchase stock, return shareholder value, borrow more, return shareholder value, sell out holdings when business is exhausted. All the while, despite unlocking the vast reservoir of value, stop raises, provide subpar health care plans that are expensive, and provide some 60-40 choices in the 401(k) plan (with high fees). Sell all shares, retire from board seat. Leave the business with few resources to grow.

    Perhaps I am mistaken. My observation is that Mr. Singer is an example of an “investor” who does not increase the long-term, productive capacity of his captured, nor of the nation’s economy. Mr. Singer can be critical of the Fed and central banks all he wants. Fact is, he saw an opportunity to make money with money. He is taker, not a builder.

    Is there nothing better for the world that Mr. Singer and his ilk could have done with their talents?

    1. Yeah… I won’t comment other than to say that Paul ain’t no joke. There’s not, generally speaking, much to lampoon. Don’t get me wrong: There’s plenty to criticize. But unlike the other big names I giggle at, he’s not a guy who a lot of people find funny — in any context. That’s why I said he’s “not an easy target” and why I described him as “a different animal.”

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