By Lawrence Delevingne
Billionaire hedge fund manager Paul Singer has issued an unusual warning for investors, calling the threat of a widespread blackout from an electromagnetic surge the “most significant danger” in the world.
Called an “electromagnetic pulse” or EMP, the events can occur naturally from solar storms or artificially from a high-altitude explosion of nuclear weapons.
“While these pages are typically chock full of scary or depressing scenarios, there is one risk that is head-and-shoulders above all the rest in terms of the scope of potential damage adjusted for the likelihood of occurrence,” Singer wrote to clients of his $24.8 billion Elliott Management on Monday in a standard investment update letter.