Patrick Wolff: From Chess Master to Value PM [VIDEO]VW Staff
Yahoo Finance posed a line of questions to Patrick Wolff, chief investment officer at Grandmaster Capital, on the sidelines of the Berkshire Hathaway (BRK-A, BRK-B) shareholder meeting in Omaha, where he was a spectator and performer, showing off his skills playing blindfolded chess against six players at once.
From his viewpoint, Patrick Wolff is far less concerned about the Fed extracting itself from its quantitative easing “experiment” than he is about the risks lurking within the world’s second-largest economy.
“I’m no too worried about it,” Wolff says in the attached video of the Fed’s easy money policy; a policy that Warren Buffett refers to as a ”huge experiment.” “If and when the U.S. economy really comes roaring back the Fed (will have) lots of ways to tighten appropriately.”
On China, however, Wolff is blunt.
“My own view is that China’s economy is in a bubble,” he says, referring to the fast-growing Asian nation as “a dangerous place” to invest that is likely “to end very, very badly.”
No embed full video is here on Yahoo Finance.