A few weeks ago, I was watching CSPAN (I know, I know) and really enjoyed a speech given by Richard W. Fisher, president of the Dallas Federal Reserve. It’s a great recap of the events leading up to the current financial crisis and he is an eloquent speaker.

One of the funniest items in the first clip was his recollection of seeing a conversation on TV where an investor asked a pundit what “position” the investor should take (hence the name of this post). I have twittered this phrase and have mentioned it in no less than 3 speeches I have given in the past two weeks. For those of you who have already heard my feeble attempt at humor, I apologize.

Here is the speech, in all its YouTube glory in 3 parts. It’s worth a listen.

Part I

Part II

Part III

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