He is a terrible investor, way too emotional. But he does see the market losing a lot of its value next year, and sees severe deflation, not inflation, next year too. He has been wrong before, thought we would have a recession in 1997, but the market did fall pretty hard that late fall. He has been right on since then with the economic predictions, and his indicators are not anywhere near as negative as they were all of 2008, but they are pretty grim.