In an address to a peer group of high-net-worth investors in New York City, George Soros told the audience that he would have little to say to cheer them about the state of the global economy.

“At this junction it does not appear that we are going back to equilibrium and the state of disequilibrium has many facets,” Soros said, according to a summary of his comments provided by members of TIGER 21, which stands for The Investment Group for Enhanced Results in the 21st Century. The group’s 193 members collectively manage more than $16 billion, and include entrepreneurs, inventors and executives.

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