In the economy of the cuckoo people that populate central banks, everything is possible. What you have is gigantic bubbles, the NASDAQ in 2000, then the housing bubble and then commodities in 2008 when oil went from $78 to $147 before plunging to $32 within six months.

I think there are some groups of stocks that are highly vulnerable because they're in cuckoo land in terms of valuations.

What I object to the current government intervention in so-called 'solving the crisis', they haven't solved anything. They've just postponed it.

You have to say that we are again in a massive financial bubble in bonds, in equities, in [other] asset prices that have gone up dramatically.

As an observer of markets - whenever everyone focuses on one thing - like Greece and Europe - maybe they miss issues that are far more important - such as a meaningful slowdown in India and China.

In the economy of the cuckoo people that populate central banks, everything is possible. What you have is gigantic bubbles, the NASDAQ in 2000, then the housing bubble and then commodities in 2008 when oil went from $78 to $147 before plunging to $32 within six months.

When I look at asset prices; real estate, bonds, equities, vintage cars… I think that gold is actually one of the few assets that is relatively cheap, relatively inexpensive.