Billionaire hedge fund manager Paul Tudor Jones has claimed that Morgan Stanley was wrong to declare the start of economic recovery in the US.Speaking to Bloomberg, he explained that his company, Tudor Investment Corp, is taking a bearish position on US stock and bond price rises, predicting that there could be another selloff instore once the government eases off on its fiscal stimulus.Goldman Sach's senior investment strategist Abby Joseph Cohen had previously told Bloomberg Radio that the company was positioning itself for economic recovery.She added that the firm expects growth of around three per cent over the next two quarters.However, Jones insisted that the government's emergency stimulus package failed to address the root cause of the economic crisis, namely toxic assets."Some critical initiatives have been cut short. As a result, toxic assets remain on balance sheets and credit growth is likely to be subdued for a long period," he warned.