“We have around six months left of trading in Western markets to protect ourselves or make enough money to offset future losses. Spend your time looking at the risks of custody, safekeeping, counterparty etc. Assume that no one and nothing is safe. After that……we put on our tin helmets and hide until the new system emerges. I wish I wish I could see another outcome with an equally high probability, but I can’t……All we can do is hope that I am wrong, but either way, a new system will emerge and it will open up a whole new set of opportunities…but we will be going back 40 years in time, and 1,500 years, and 3,000 years.” – Former hedge fund manager Raoul Paul, from his lecture titled “The End Game“, given at Shanghai, May, 2012.
Jim’s Quote of the Day:
