On the president: "I think Donald Trump is the avatar of tail risk. He is personally the expression of possible disparate extreme outcomes. Things could be, as he might say, great. They could be really nice or not."
On future Trump appointments to the Fed: "My guess is he's going to put someone who is very dovish. I think he is a former leveraged New York City real estate speculator who loves low rates."
He also discussed:
- Market valuation
- Why he voted for Trump
- Federal Reserve policy
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