-- He blasted the Federal Reserve again for its low interest rate policy.
-- Calls the policy "non-stop chronic interventions."
-- He said the Fed is starving the savers and subsidizing the speculators and that will have dire implications
-- There will be lot more possible consequences versus only four highlighted by the Fed in the Jackson Hole speech. Hong Kong real estate prices going up is a distant consequence of Fed policy in the U.S. as the Hong Kong dollar is pegged to the U.S. dollar.
-- This is an experiment, and the Fed is trying to learn as it is doing it which is not good.
-- Investment opportunities: equities. He loves GM (NYSE:GM) for its valuation and solid balance sheet. Look for investments where there is margin of safety and solid balance sheets
Here is the video: