From The Pragmatic Capitalist:

High profile hedge fund manager Peter Thiel is speaking out after reports emerged that his firm was floundering as the markets ripped higher. Thiel, a master of understanding secular trends believes the rally is built on quicksand – a stance he not alone in taking. Thiel told the WSJ yesterday that the rally was not real:

“The recovery is not real,” he says. “Deep structural problems haven’t been solved and it’s unclear how we will create jobs and get the economy growing again — that’s long been my thesis and it still is.”

Of course, this sounds all too familiar to regular readers. Thiel is dead right about the long-term problems that the U.S. is confronted with. Unfortunately for Mr. Thiel’s investors he has had a difficult time trading around these themes.

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