Thu, Apr 25, 2024
A A A
Welcome Guest
Free Trial RSS pod
Get FREE trial access to our award winning publications
Alternative Market Briefing

U.S. hedge fund warns of housing bubble in Australia

Tuesday, December 27, 2016

Komfie Manalo, Opalesque Asia:

New York-based hedge fund manager Chris Mittleman has warned of an impending housing bubble in Australia. He also described the victory of billionaire Donald Trump in the last U.S. election as an embarrassment for America.

Mittleman, who plans to bring his global value equity fund Mittleman Brothers to Australia through local boutique fund manager and distributor Brookvine, visited Australia recently and told investors that the fund was fully invested and would not buy local stocks as well as New Zealand stocks.

He told The Australian, "The reality is that the valuations here tend to be at the higher end compared to what I am seeing in different parts of the world. There are opportunities for Australia but I think it is going to be a difficult period to come. You have a housing bubble that I think needs correcting. There could be a bit of a disruption to GDP from that."

Mittleman Brothers is backed by wealthy private investors and family offices in Australia and is initially offered for the institutional markets.

At the same time, Mittleman criticized the American people for voting Trump over Hilary Clinton in the last U.S. elections and added it remains to be seen if the billionaire would be good for the nation's economy.

He went on to ......................

To view our full article Click here

Previous Opalesque Exclusives                                  
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. KKR raises $6.4bn for the largest pan-Asia infrastructure fund[more]

    Laxman Pai, Opalesque Asia: The New York-based global investment firm KKR has raised a record $6.4bn for its second Asia-focused infrastructure fund, underlining investors' continued appetite for private markets. According to a media release from the alternative assets manager, the figure top

  2. Bucking the trend, top hedge fund makes plans for a second SPAC[more]

    From Institutional Investor: SPACs aren't dead. At least not to the folks at Cormorant Asset Management. The life sciences firm, whose hedge fund topped its peers in 2023, is confident it will match the success of its first blank-check company. Last week, the life sciences and biopharma speciali

  3. Benefit Street Partners closes fifth fund on $4.7 billion[more]

    Bailey McCann, Opalesque New York: Benefit Street Partners has closed its fifth flagship direct lending vehicle, BSP Debt Fund V, with $4.7 billion of investable capital across the strategy. Benefit Street invests primarily in privately originated, floating rate, senior secured loans. The fun

  4. 4 hedge fund themes that are working in 2024[more]

    From The Street: A poor earnings report from Tesla (TSLA) has not hurt the indexes on Thursday. The decline in Tesla stock, which is losing its position in the Magnificent Seven pantheon, is more than offset by strong earnings from IBM (IBM) and ServiceNow (NOW) . In addition, the much higher-t

  5. Opalesque Exclusive: A global macro fund eyes opportunities in bonds[more]

    Bailey McCann, Opalesque New York for New Managers: Munich-based ThirdYear Capital rebounded in 2023, following a tough year for global macro. The firm's flagship ART Global Macro strategy finished the year up 1