Two years ago, Paul Singer warned the global financial system was in bad shape and investors were facing the possibility of a big market drop. <\/p>\n
With that, the billionaire behind the $38.3-billion Elliot Management fund, raised about $5 billion in one day<\/a> in preparation for \u201call hell to break loose.\u201d <\/p>\n He reportedly put a big chunk of that to work in the first half of this year. <\/p>\n Well, there\u2019s been plenty of volatile stretches since he raised that cash, but stocks have recovered and are once again bouncing around record highs. Nevertheless, according to the Financial Times<\/a>, Singer is tapping investors for another $5 billion in anticipation of a \u201cmarket meltdown.\u201d <\/p>\n Here he is talking about his bearish forecast at a panel in Aspen last summer, when he said \u201cThe global financial system is very much toward the risky end of the spectrum in terms of debt\u201d: <\/p>\n
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