Via the AFR:
The coronavirus could trigger the next financial crisis but the underlying cause will be subprime corporate loans, contrarian investor and chief stock picker for the $19 billion Ariel Investments Rupal Bhansali warns.
…”We did not know if the economic shock would come from coronavirus or something else [but] in the worst-case scenario many, many companies will default on their bonds,” she says, pointing to the decline in GE’s value over recent years as a “canary in the coal mine … That was a 150-year-old company that was on its knees,” she says.
