Courtesy of Stansberry and Associates:
“He’s demented… he’s making comparisons between apples and elephants,” said Charlie Munger at this year’s Berkshire Hathaway meeting, when asked about Wharton professor Jeremy Siegel. Siegel, who calls himself the “Wharton Wizard,” has added global warming to his dubious list of theoretical phenomena, alongside stock-market efficiency.
The “Wizard” says that if global warming continues, “the earth will be as warm as it was 3 million years ago when the seas were between 15 and 35 meters higher than today....” My question to the “Wizard”: How many SUVs were on the road 3 million years ago?
Warren Buffett once commented that he should endow a dozen finance professors… so that folks would continue to believe that the stock market is efficient.