I agree. I think his point was pretty clear, but his subsequent conclusion regarding the risk factor just seems completely nonsensical to me -- I mean, you cou

I agree. I think his point was pretty clear, but his subsequent conclusion regarding the risk factor just seems completely nonsensical to me -- I mean, you could bet on any not-correlated-to-the-stock-market-event, regardless of its probability or odds factor, and it would have yielded less risk than holding CDOs as per his assessment. He's just talking about diversifying, but with the assumption that a stock market crash / economic crisis is imminent.