(Bloomberg) Renaissance Technologies, the world’s most profitable hedge fund, said there’s a “significant” risk of a correction in prices and is preparing for possible market turbulence.
While accelerating global growth, corporate tax reform and a business-friendly administration in the U.S. have contributed to market gains, it’s not clear these factors justify current valuations, especially in light of sovereign debt levels, Ed Hubner, the quant firm’s head of risk control, wrote in a December letter sent to clients this month.
