"I worship not at the altar of price momentum but rather at the altar of security analysis and margin of safety. This analysis suggests that the downside risks dwarf upside rewards. After much thought I have liquidated all of my long positions and I have a large net short exposure now."
"The societal hollowness created by those pushing the delusion of a materialistic American Dream based on an ever-growing pyramid of debt has left a society morally deadened, psychologically damaged, living lives based on deception, and willfully ignorant of the truth."
" The great financial crisis of 2007/08 will be eclipsed. In a nutshell, this time the quantity of new money required will likely lead to the destruction of the 'full faith and credit' in the currencies themselves, which until now has been broadly unquestioned by ordinary members of the public. "