The Cyber-Cave

Reflections on the political, technological, cultural and economic trends of the world

Paul Singer

Paul Singer (1944): a Jewish American financier who specialises in distressed debt and vulture funds. A strong believer in liberalism and in free markets, he often shows his resentment towards government regulation and involvement in social affairs. In 1977 he founded the hedge fund “Elliott Management Corporation”. According to the Wall Street Journal [1], he was the second top donor (with $ 25 million) to the Republican Party for the 2016 Presidential elections. On April 17 2007 he was part of a secretive meeting during an annual G-7 in Washington for finance ministers, where Singer and other top financiers warned global policymakers about an impending catastrophe (the 2008 financial crisis) [3]. The content of this discussion involved the unreliability of the ‘Triple A’ ratings and the over-leverage of some of the top financial institutions.
According to Forbes, Singer’s net worth is $2.2 billion.

This page will explore Singer’s financial endeavours in the vulture fund industry.

PERU

Singer’s vulture fund strategy involves buying the government bonds of distress countries at a discounted price, and then going after the governments to repay the debts. In case governments fail to fulfil their obligations, Singer uses legal tactics through international law.

CONGO

ARGENTINA

QUOTES:

This is taken from a letter to his investors: “Resentment is not morally superior to earning money” [2]

RESOURCES:

[1] http://www.wsj.com/articles/meet-the-mercers-a-quiet-tycoon-and-his-daughter-become-power-brokers-in-trumps-washington-1483904047
[2] https://www.bloomberg.com/news/articles/2014-08-07/argentinas-vulture-paul-singer-is-wall-street-freedom-fighter
[3] http://www.huffingtonpost.com/rob-johnson/jim-chanos-warned-brown-g_b_274527.html

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