With each passing day, systemic risks in the financial system become greater. Smart money insiders and billionaire investors are taking note - and taking defensive actions.
Mega-billionaire Carl Icahn, whose long-term track record is unrivaled, recently
warned that "there will be a day of reckoning unless we get fiscal stimulus." Icahn's hedge fund is betting on a day of reckoning scenario. He has gone 150% net short the stock market while holding commodity-related positions to the long side.
International currency speculator and leftist financier
George Soros has slashed his fund's overall equity holdings by 25%. Like him or not, Soros is no dummy when it comes to the financial system. He is an establishment insider who apparently sees turbulent times ahead. He owns a not insignificant amount of
gold, and his largest single equity holding now is Barrick Gold (NYSE:ABX), a major gold mining company.
"The system itself is at risk," warns bond market wizard Bill Gross. In his latest market
commentary, Gross cites "artificially high asset prices and a distortion of future risk relative to potential return."
Comment: The following article is from December 2015, in 18 months the number of refugees has increased dramatically!
NATO's 'gift' to the world: Number of people forced to flee their home countries this year has exceeded all previous records