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Barry Sternlicht Warns “Everyone Is Holding Cash Because They Know When It Ends It’s Gonna Get Ugly”

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Zero Hedge

The Fed is playing a very dangerous game,” Starwood Capital’s Barry Sternlicht warns,”and they need to stop.” Sternlicht has quadrupled his firm’s net worth in this time and, to the incredulity of the CNBC anchors, warns, “this is bad, this is a heroine addiction.. and now they are printing more money than the deficit.” The outspoken CEO of the $29 billion fund, noted “all my friends who are money managers.. are much closer to the sell button than they ever were before,” adding that “everyone’s holding cash,” since if they start to get nervous “volatility will come back instantly.” Simply put, he concludes, “you know when this ends, it’s gonna get ugly.”

On Fed QE and investors’ heroin addiction:

 
 

they should knock this off. This is bad. This is a heroin addiction. The more you get on it, the worse it’s going to get; the more asset values inflate.”

http://www.zerohedge.com/news/2013-11-05/barry-sternlicht-warns-everyone-holding-cash-because-they-know-when-it-ends-its-gonn

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