In October 2008, he predicted that hundreds of hedge funds were on the verge of failure and that the government would have to close the markets for a week or two in the coming days to cope with the shock.
Most hedge funds would have been bankrupt if not for the bailouts, so he was technically correct.
It actually makes sense. To predict the economy without government you need to predict trends and the behavior of many people. To predict the government moves you need to predict the whims and arbitrary actions of individuals, and do that according to their perceived political gains.
Most hedge funds would have been bankrupt if not for the bailouts, so he was technically correct.