The legendary Seth Klarman spoke at a private meeting with business leaders in June in which he criticized not just the Federal Reserve, but all the 'silly' investors and the even sillier rating agencies. Klarman has been an outspoken critic of the Fed's interventions and the consequent ebullience of the markets.
His latest speech also includes a distinct tone of regret over where the current state of affairs is taking the U.S. He sounds positively saddened by how things are run in his country. In Klarman's words:
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