"I have never seen financial markets this momentum-driven or correlated. Whether interest rates need to go 1% or 2% higher doesn’t significantly change our stock valuations."
"Inflation is the big problem on the horizon and central banks' rate hikes are going to be "kryptonite" for markets"
"I also think the extent that central banks need to raise interest rates has become kryptonite effectively. The days of putting interest rates up from 5% to 10% to slow the economy down (are gone). I think you have the same effect these days, putting interest rates up from 1% to 2% because there's so much leverage in the system," he said.
If only he had followed his own advice....
FOR Price at posting:
$1.21 Sentiment: Sell Disclosure: Held