22 May 2010 Why One Legendary Investor Is More Worried Than Ever ( Portfolio )
And, said Mr. Klarman one of the best ways to protect against a decline in purchasing power is to buy whatever is "out of favor, loathed and despised." So forget about gold or other trendy hedges. Instead, wait patiently for markets—European stocks, perhaps—to get so cheap that they turn most investors' stomachs. Then you can pounce.