Today 40-year veteran Don Coxe told King World News, “Historians 1,000 years from now will write about this time period.” Coxe, who is Global Strategy Advisor to BMO ($538 billion in assets), spoke with King World News about a fascinating encounter with Nassim Taleb, and the incredible danger investors face today.
Here is what Coxe had
to say: “I’d like to tell you a story about the summer of 2007. I was
speaking at a conference for the BMO Financial Group out in California,
and the other speaker was Nassim Taleb. His book had only come out a
few months before (titled), ‘The Black Swan,’ which of course I read.”
Don Coxe continues:
“But by the time he was at the conference he was a big name indeed. We had a good turnout and I spoke first. I spoke on the theme of the commodity boom. Then he spoke. But in between we had about a 20 minute break, and he was talking with me quite excitedly about the situation of derivatives in the banking system.”
He said, ‘The whole system will crash within a year.’….
“But by the time he was at the conference he was a big name indeed. We had a good turnout and I spoke first. I spoke on the theme of the commodity boom. Then he spoke. But in between we had about a 20 minute break, and he was talking with me quite excitedly about the situation of derivatives in the banking system.”
He said, ‘The whole system will crash within a year.’….
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