Bill Fleckenstein Interview
This was a very good and refreshing interview. I did not agree with Bill Fleckenstein on everything, but I did agree with many of the points he made, especially with regard to debt levels, how the debt crisis unfolded, the total lack of prudence and will to get anything done in the wake of the first financial meltdown, and thoughts on a virtually inevitable sovereign debt crisis.
I particularly liked the last half of the interview where he talked about gold and why he holds it. It was a very pragmatic viewpoint that I completely agree and identify with. Gold is protection against bad financial and governmental decsions, especially with regards to monetary policy. And the fact that it has served this purpose for so long tells how effective it is in this regard when currency crises happen (and every fiat currency eventually has one).
He was very forthright in the intangibility in valuing gold. I again found this very refreshing. But he makes a strong case for hold as a hedge despite this. It was overall a great interview
LISTEN TO INTERVIEW HERE
Bill Fleckenstein is often quoted in both national and international media. He has appeared at one time or another in virtually all financial media including Bloomberg, CNBC, The New York Times, MSN, Marketwatch, Barron’s and more. In this interview Bill discusses key levels in the stock market, the possibility of a resumption of the bear, how our market could trade in the future compared to the bear market in Japan, the gold bull market, recklessness in Europe and much more. Bill is a highly sought after speaker a successful author and has been in the financial sector for over 25 years.
Biography - Bill Fleckenstein
William A. Fleckenstein is president of Fleckenstein Capital, a money management firm based in Seattle. He writes a daily Market Rap column for his Web site, Fleckensteincapital.com, as well as the popular column Contrarian Chronicles for MSN Money.