"Given groupthink and the determination of policymakers to do 'whatever it takes' to prevent the next market 'crash,' we think that the low-volatility levitation magic act of stocks and bonds will exist until the disenchanting moment when it does not. And then all hell will break loose (don't ask us what hell looks like...), a lamentable scenario that will nevertheless present opportunities that are likely to be both extraordinary and ephemeral. The only way to take advantage of those opportunities is to have ready access to capital."
He thinks there will be a rush to the exits in the market, a jam!! The theory is that the tax dollar reigns supreme in pricing, so collect those, wait for the jam and buy a low prices.
But, fewer of us pay taxes, and commerce runs quite well, even better, in the sandbox with multiple currency options as well as ad hoc buyers clubs and over stockers.
His new hedge fund likely will do well, but not as well as he thinks. Deployment of billions of secure elements is coming, and we might see the crash held off just long enough tha we can smooth out.
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