gold has no value: buffett loses marbles, page-36

Buffet is not trying to shake a few leaves from the tree, he wants to snap a few branches in order to reshape a few dreams. Below is the small end of the big end of town, where real money moves prices.

Note the selective period used - seems to be a preferred tactic no limited to HC.

Hero or zero -

Kyle Bass Urges Texas Fund to Hold Gold Hedge
bbg - http://is.gd/hcyfD4

“Ho-hum performance is how I’d characterize our hedge fund portfolio”

Distressed funds is where the immediate future volatility lies. In the absence of fixed income (now zero/negative real yields out to 10 years) this will force the hands of many to make a leap of faith ... one way or the other.

They are worried about missing out on country club memberships. Powerful hallucinogens are at work and just need the right catalyst.