There are only two people running [Donald trump and Hillary Clinton] - you have to pick one of two people, and it's not like I said Mickey Mouse was going to win. This is why, like you said about Brexit, inside of London I don't think they saw what was going on.

I think [millenials] are taking advantage of deflationary forces to improve their life while not maybe having to chase the nominal money that was needed to buy a whole car, a whole house, a whole couch.

You get behind some of the numbers, like the underfunded pensions in the US, and I'm not sure people even understand how wrong their situation is.

You see a wave of populism in the world. There is something wrong. This maybe because of technology. The ability of people to reach their own news sources now, and create different views, is really unbelievable. There is a desire for change. There is a millennial generation that doesn't like what they're seeing, but doesn't quite know what the solution is.

The consensus is a very dangerous thing to get complacent about.

Do people have confidence? I think the real confidence you need is the confidence in your outlook, and I think people are pretty confident it is a low-growth world.

I went to Brazil, and you get on the ground and you see it, and you could tell the government was in trouble two years ago. This was just going to sweep the government aside, and it was a force you could feel. Brexit, the same thing.