real estate

“There's a whole portfolio of over levered companies in real estate. And there's a whole portfolio of over levered companies in private equity. Those folks will have to get recapped. And that will probably cost trillions of dollars of capital impairment.”

“If you're going to allow higher inflation, basically monetizing the debt, the bond markets are going to make the government pay higher interest rates on its debt, right? So we're going to be in a world of higher interest rates, which means that equities get cl…”

“I think legacy car companies and real estate are going to face continued headwinds and be terrible assets”

“I think if you want to cement political power, I think it requires a walking down of these asset markets in a meaningful way. That's stocks and that's real estate. And I just don't see any other way around it.”