Singer Rails Against ‘Incompetent Global Response’ To Ebola

Nov 5 2014 | 10:20am ET

Elliott Management’s Paul Singer is rarely afraid to stray far from his hedge fund’s investments in his letters to investors. The most recent is no different, with Singer weighing in on the current Ebola virus epidemic.

As is normally the case when Singer wades into non-investment issues, he’s not happy with what he sees, and warns that there could be more to the epidemic than the immiseration and suffering it causes.

“The incompetent global response to the Ebola epidemic may be a precursor to a severe economic slump,” Singer warned. “The impact of Ebola on the global economy and financial markets is extremely hard to predict, with the possibilities ranging from mildly disruptive and growth suppressive on one hand to catastrophic on the other.”

“Regardless of its macroeconomic impact, from a human perspective the epidemic is a terrible tragedy for the afflicted areas of the world,” notably the West African countries of Guinea, Liberia and Sierra Leone, where thousands have died since December. Aid workers have also brought the disease with them around the world, with four cases (and one death) in the United States, as well as medically-evacuated cases in Spain, Germany, France and the U.K., among others. 

Singer is often bitterly critical of global policymakers, most notably President Barack Obama and central bankers.


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