it’s too bad that he has an incorrect understanding on systemic risk. he should probably consider the difference between currency users and currency issuers.
i love that he is passionate… and that passion should be commended.
ironically he was asked where he was investing in the united states right now and went long housing… but didn’t mention anything phone book related. good job, because i support the thesis that the phrase “phone books” is an extreme credibility diluter… but it would have been cool to see him note that he has a sizable position in them.
i really liked his analogy of the golf course where they score a hole and then move onto the next one.