“Someday financial markets will decline...rising stock/bond markets will no longer be government policy. QE will end and money won’t be free. Corporate failure will be permitted. The economy will turn. Someday, somewhere, somehow, investors will lose money and once again come to favor capital preservation over speculation. Someday, interest rates will be higher, bond prices lower, and the prospective return from owning fixed-income instruments will again be commensurate with risk.” Seth Klarman
Wednesday, June 24, 2015
Carl Icahn: "what's better - making 2% or losing 30% as people did in 2008...right now it's an extremely dangerous time..."
"keep your powder dry - why do have to own anything...[risky]? ...It's just nonsensical..."