Hedge fund superstar Paul Tudor Jones, who worked as a newspaper editor in college, gave a speech at the Memphis Daily’s 125th anniversary celebration this week.
At the event, the secretive hedge fund manager gave his market outlook.
From Memphis Daily:
Jones also thinks the markets may end up forcing the federal government to clean up the nation’s balance sheet in as little as three or four years from now. And he said that would present a once-in-a-generation opportunity to own assets.
The hedge fund billionaire, whose net worth is $3.2 billion, also addressed the topic of income disparity, according to the Memphis Daily News, which writes:
During his remarks, Jones lamented the fact the United States is facing what he says is its biggest wealth disparity in more than 100 years – leaving the U.S. perched, he said, somewhere between Rwanda and Iran.
(For more information on why this is bad for the country click here.)
He said he understands the grievances of the Occupy Wall Street movement, which began in Manhattan’s Financial District six weeks ago and has since spread nationwide.
“(Occupy Wall Street supporters) have a good point when they talk about how our system’s busted,” Jones said. “I’m not sure what the answer is. But I plan to step up more so than I ever have in the past.”
As a result, Jones, who works with his charitable foundation the Robin Hood Foundation, said he plans to step up his own philanthropic endeavours. His current projects also include setting up a charter school in New York, fighting poverty in New York and providing humanitarian aide in Africa.