5min chapter

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#4: Bill Fleckenstein on Central Banks, Financial Bubbles and White Burgundy

Superinvestors and the Art of Worldly Wisdom

CHAPTER

Greenspan's Ego Got to Me

I think Greenspan was, I really disliked him because of the fact that he not having been a very good economist ought to have known better. He's just nonsense about irrational exuberance. And then we got Bernanke who was epically clueless and didn't come to the conclusion that the Fed could have studied the depression and tweak things in ways that ended in disaster. The exact quote is: You can't arbitrage real estate in Maine or Portland but it's pretty close there.

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