Burbank bets on global recession

Filed under: AM Roundup |

John Burbank, owner of Passport Capital Hedge Fund, is betting on a global recession and a global fall in stocks, reports Bloomberg.

Most of his peers, however, are betting that U.S. stocks continue to rise. Burbank points to 2006, when he bet that the subprime mortgage industry would tumble. That bet earned Passport Capital a 220 percent return in 2007.

Read more at Bloomberg.