As a hedge-fund manager who thrives on turbulence in the commodities markets, John Burbank couldn’t have done better than the first week of May.
In the dozen years that John Burbank has run his $3.4 billion Passport Capital hedge fund, he’s never been as negative on global stocks as he is now.
John Burbank, founder of $3.8 billion hedge fund Passport Capital LLC, said he expects a U.S. economic recession this year or in early 2013, according to a letter to investors.
John Burbank, founder of $3.4 billion Passport Capital LLC, expects the European Central Bank to cut interest rates when it meets on July 5.
"Given our view that risk is underpriced, we anticipate contracting gross exposure on both sides during the third quarter. We have already started to do this with some trims in China Internet."
- John Burbank on Aug 22, 2014