Here are some highlights from our notes on the discussion.
ON WHERE THINGS ARE GOING
James Melcher,Founder and CIO, Balestra Capital:
"We're clearly in a deflationary environment" but government intervention sows the seeds of inflation.
The outlook is "very grim."
Most evaluations of the market are way too high.
On the financial crisis: "There's nothing unusual about it. It happens every 10 or 20 years in our system. It always has, and I think we're seeing another bubble right now."
So called "green shoots" will turn out to be just weeds.
Don Hanna,Managing Director,
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