George Soros Sees Crisis in Global Markets That Echoes 2008
SmartStops Commentary: This was why we created our service as the 21st century markets are much more volatile then in the past. One must recognize that the old theory of Buy & Hold and strictly relying on diversification is insufficent to protect one’s invesments. Active risk management is a MUST in our markets today.
Complete article can be found here:
Global markets are facing a crisis and investors need to be very cautious, billionaire George Soros told an economic forum in Sri Lanka on Thursday.
China is struggling to find a new growth model and its currency devaluation is transferring problems to the rest of the world, Soros said in Colombo. A return to positive interest rates is a challenge for the developing world, he said, adding that the current environment has similarities to 2008.
Global currency, stock and commodity markets are under fire in the first week of the new year, with a sinking yuan adding to concern about the strength of China’s economy as it shifts away from investment and manufacturing toward consumption and services. Almost $2.5 trillion was wiped from the value of global equities this year through Wednesday, and losses deepened in Asia on Thursday as a plunge in Chinese equities halted trade for the rest of the day.
Read more Bloomberg article – George Soros