In his most recent investor letter, Paul Singer remains downbeat on government and the economy even as the firm is up for the year and recently raised another $1.1 billion.Paul Singer is a hard man to please. In his most recent investor letter, the typically cynical Singer takes a dim view of his own performance. Recent economic uncertainty has created an environment that “is not yet providing the kind of complicated new large restructuring situations we find appealing,” he wrote.
The firm’s performance isn’t quite as lackluster as those words might convey, though it trails Elliott's stellar 2009 gains.
Last year’s government bailouts provided a boon for Singer, whose 33-year-old Elliott Management turned in a more than 30% return in 2009. Flagship fund