They discuss about government debts, equities, gold, the global economy and politics.
Some random quotes:
- "I would rather buy Italian government debt at 7% than US treasuries at 2%".
- "The best would be to break up the Eurozone ..with local currencies and the Euro co-exisiting..."
- "You're better off investing in equities rather than in bonds or cash over the next 10 years"
- "It's beautiful, wherever you look there are problems..."
- "I'm very concerned about the slowdown in China"
- "I own some companies like Hang Seng Bank and Sun Hung Kai Properties" and he doesn't invest directly in Chinese companies.
- "I'm fully prepared to have less money over the next years" (due to higher taxes).
- "It's my biggest worry, that eventually we'll have war".
- "People that have deposit in the bank may lose money, who knows" in reference to MF Global and other companies that play with clients' money.
- "Nothing will be done, the entitlement will continue, the government finance will continue to deteriorate and one day the government will go bust. Before that they'll print money..."