'All the makings of a crash are there': A hedge fund manager sees a giant bubble in the 'Ponzi economy' — and he’s sounding the alarm on WeWork and Tesla
"I genuinely believe there's a crash coming," he told Business Insider in an exclusive interview.
Kupperman also thinks the Federal Reserve's policies have created a "Ponzi economy" — and that a day of reckoning is nearing for the likes of WeWork and Tesla. Harris Kupperman, the president of Praetorian Capital Management and CEO of Mongolia Growth Group — a $6.1 million real estate investment firm — is currently in the midst of selling 10% to 50% of almost every position he has.
"I genuinely believe there's a crash coming," he said. "I've been through 2 crashes in my life, and I think this is the third one." That's stark warning — and Kupperman's thesis isn't coming out of left field. In fact, he shared a wide range of reasons for the inevitable undoing including: funding stresses,"All the makings of a crash are there," he mused.Federal Reserve"When you push liquidity through the system like they have the last ten years, you create a giant bubble," he relayed.And he's just getting warmed up. To Kupperman, the Fed's actions have created a "Ponzi sector.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Neil Patrick Harris To Star In Channel 4’s Russell T Davies-Penned Period Drama ‘Boys’Neil Patrick Harris is to star in Russell T Davies’ 1980s-set Channel 4 drama Boys. The How I Met Your Mother star is cast alongside Olly Alexander (Penny Dreadful), who leads the cast, Bodyguard’s…
Read more »
Keeley Hawes, Neil Patrick Harris, Olly Alexander Cast in AIDS-Era Series ‘Boys’Olly Alexander, Keeley Hawes and Neil Patrick Harris are set to star in “Boys,” a new series from “Queer as Folk” creator Russell T. Davies that charts the lives of a group of young gay men who fin…
Read more »
2020 candidate Sen. Kamala Harris calls on Twitter to suspend Trump's account2020 presidential candidate Sen. Kamala Harris calls on Twitter to suspend President Trump's account
Read more »
'Tender Head': An Original Story by Jeremy O. Harris'I sat at her feet, my mother, her thighs against my shoulders and my head upon her knee as she’d transform me.'
Read more »
There's little California love as Kamala Harris struggles in home stateThere is no home-state advantage in a place too big and costly for political loyalty. Winning California requires winning elsewhere first.
Read more »
Kamala Harris Undergoes Heart Surgery After Seeing Positive Reception For SandersWASHINGTON—Calling the procedure an “absolute necessity” to save her campaign, sources confirmed Thursday that Kamala Harris was rushed into emergency heart surgery immediately after seeing the positive reception Bernie Sanders received. “After seeing a sudden surge in thoughts, prayers, and monetary donations received by the Sanders 2020 campaign, Mrs. Harris was rushed into the operating room where doctors promptly inserted stents into several of her arteries,” said campaign manager Juan Rodriguez, adding that although she’d only been awake for a few hours, the surgery had already allowed the Democratic candidate to gain four points in the polls and grace the front page of every major national newspaper. “While the procedure was admittedly a shock to many, Mrs. Harris’s family and friends have thankfully reported that she’s already feeling 10 times more presidential. And to anyone who doubts her fitness for office, remember: Unlike Bernie, Kamala’s heart was never blocked in the first place.” At press time, Harris had reportedly surpassed Sanders, Warren, and Biden in popularity after contracting a deadly form of MRSA during her recovery.
Read more »