Three key lessons from recent travels around the world
"One member is a sharp, contrarian hedge fund manager. He gave a brief presentation on why Greek stocks are a tremendous bargain right now, despite almost every other world market being overpriced near their all-time highs. Another friend of mine who is a real estate mogul said that much of the price rise we’re seeing in US housing is due to a wave of hedge funds that are buying vacant properties. He said he expects most of these hedge funds will liquidate within 18-24 months, flooding the market with homes and driving prices back down. When it came my turn to make some remarks, I told the group three things I’ve learned in my recent travels." Continue reading →