The Secret Police Have the Upper Hand

I think that really good, really great portfolio of managers have something. They can look at something that's today and imagine a radically different set of circumstances. And their mind works a little bit like a kaleidoscope. In other words, they're staring at the world and they shift the kaleidoscope every single day. But some of those things are radically different than what we're living through right now. Those are the people that correctly call stock market bubble tops and crises and things.