Hedge-fund manager warns of biggest market correction since 2008

Hedge-fund manager Robert Citrone, whose Discovery Capital Management firm oversees about $12.4 billion, offered his clients a grim assessment of what’s to come in the stock market, according to a note obtained by Bloomberg

We believe we are in the midst of the market correction we have been expecting. It will likely persist over the next 3-4 months and be the largest correction since the 2008 crisis.

Robert Citrone

He did say in the note, however, that the coming retreat will be a “healthy adjustment from overvalued market levels, which are primarily a result of exceptionally easy monetary policies.”

Citrone, as Bloomberg points out, is one of many hedge-fund managers given the nickname “Tiger cub” after working at Julian Robertson’s Tiger Management.

 

By MarketWatch

http://www.marketwatch.com/story/hedge-fund-manager-warns-of-biggest-market-correction-since-2008-2016-09-21?link=sfmw_fb

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