Chilling Davos: A Bleak Warning on Global Division and Debt

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The circulation of a letter from the investor Seth A. Klarman is likely to add to the typical hand-wringing at the World Economic Forum in Davos, Switzerland. The letter says mounting debt since the financial crisis could lead to a panic.CreditCreditFabrice Coffrini/Agence France-Presse — Getty Images

The New York Times  | Tue, Jan 22, 2019

by By Andrew Ross Sorkin

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DAVOS, Switzerland — As business and political leaders arrive in the Swiss Alps for the annual meeting of the World Economic Forum, a surprisingly alarming letter from an influential investor who studiously eschews attention has already emerged as a talking point.

The letter, written by Seth A. Klarman, a billionaire investor known for his sober and meticulous analysis of the investing world, is a huge red flag about global social tensions, rising debt levels and receding American leadership.

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