Carlson Managers Warn Trade War Could Trigger Global Depression
- Black Diamond duo sees Trump plans causing ‘major’ stock drop
- Hedge fund surged 19% last year, clients are told in letter
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President Donald Trump’s policies may have dire consequences for the U.S. and the global economy, say money managers at hedge fund firm Carlson Capital.
The president’s attempts to tax imports and subsidize exports could touch off a depression, money managers Richard Maraviglia and Matt Barkoff warned in a quarterly letter to clients in the Black Diamond Thematic fund. Their stock-focused fund rose 9.3 percent in the fourth quarter and 19 percent last year, the letter shows.