Friday, June 10, 2016

Former Fed President: All My Very Rich Friends Are Holding A Lot Of Cash

Is former Dallas Federal Reserve president  Richard Fisher an Austrian-lite?

Tony Sagami reports that, at John Mauldin’s Strategic Investment Conference last month, Fisher was asked  how his personal portfolio was positioned.

Fisher’s response: “In the fetal position.”

Then Sagami notes: Moreover, he also said (paraphrasing as closely as I can), “All my very rich friends are holding a lot of cash.”


1 comment:

  1. Well, he can also be onto something, joining the likes of George Soros, Carl Icahn, David Stockman, etc.

    I'm waiting for you to throw in the towel and recognize that the boom is evolving into the next bust.

    Next week has a lot of economic data and the FED decision. Lots of opportunity for commentary and boom spin, if you aren't ready to let go yet. I can't wait!