FLOWERS ON EURO DEBACLE: I FEEL STRONGLY BOTH WAYS!
In Hong Kong, MF Global director and Goldman alum Christopher Flowers provides investors with his insights into how the Eurozone crisis will play out:
HONG KONG (Reuters) – Private equity firm J.C. Flowers & Co will keep “a lot of cash on hand” to weather global market turmoil and to stay ready for potential buyout opportunities, founder J. Christopher Flowers said on Wednesday.
Determining the outcome of the sovereign debt crisis of euro zone countries “is impossible to calculate,” Flowers said, adding that analysts and investors in Europe see better odds of a positive outcome, while those outside see worse odds.
“My own guess is that the most likely outcome is that the euro zone hangs together. But there is a real possibility that’s not how it turns out and we end up in a serious crisis,” Flowers told an audience at the AVCJ conference in Hong Kong. [Emph. added.]
Decisive! For this investors pay 2 and 20. . . . And here people are saying that Corzine’s the one who didn’t have a clue. . .