What were his exact words? Is this in context. Wonder if he is simply talking his book like Abby Cohen?
Paul Tudor Jones, as well as other huge hedge fund managers, don't just show their cards to the public. Yea, they may write something to their investors, but they hide their real intentions. These guys play a game of poker with the market. Anything he says is smokescreen.
I've defended GS all over the place and then they go and do this to me. The proprietary side must be laughing their A$$e$ off watching the firm strategist make this call.
I sort of said this before, but I'll say it now more forcefully, and I've told this to folks IRL who have asked: play this like it's the latter half of 1982. (Of course I don't tell them that my timeframe would make them blanch. Oh well.) That was the last time things looked as bad as they do now. The market started rallying in August. Unemployment peaked at a rate of double digits in either Dec or Jan - you can look it up if you're really interested. The market pulled a 10% correction some time after that, when it began to worry that things were good enough that the Fed would begin to raise rates. It'll be the same this time. Ex the sharp pullbacks, a true 10%+ drop won't happen until the market begins to worry that the Fed will have to raise rates because things have gotten that good. We're quite a ways from that. Angrycat's list was a beautiful thing, I have to say. But people almost always think the market is being irrational in some way. And you know what Keynes said about irrational markets...