UBS CEO Sergio Ermotti Basically Admits Equities Are A Ponzi Scheme

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UBS CEO Sergio Ermotti Basically Admits Equities Are A Ponzi Scheme

Speaking at a CNBC panel on the World Economic Forum in Davos, Sergio Ermotti, the chief govt officer of Swiss financial institution UBS stated the huge December sell-off was the results of political fears in addition to the truth setting in that the Fed is tightening up the cash spigots. December losses on the S&P 500,

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