Grandmaster Capital’s Patrick Wolff predicts prolonged slowdown for China
|July 29th, 2012||
|Grandmaster Capital Management’s Patrick Wolff is not only predicting a continued slow-down for China’s economy, he also believes that China is entering a pro-longed period when it will grow slower than the developed world. In Wolf’s most recent letter to investors he even proclaimed that “China’s economic goose is cooked.”|
According to the Wall Street Journal, Patrick Wolff 's expectations for China contrast sharply with the overall investment community which is predicting that China’s economy will grow by 8.2% this year. While KKR & Co.’s head of global macro Henry McVey acknowledges trouble ahead for China, he sees opportunities, especially among consumer-related companies.
Grandmaster Capital fell 0.3% during the Q2 2012, but the firm was up 13.8% year-to-date. Prior to founding Grandmaster Capital, Wolff was a managing director and portfolio manager at Peter Thiel's global macro focused Clarium Capital. Mr. Thiel, who founded Paypal, reportedly seeded Grandmaster Capital with $50 million.
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