I've taken some risk off, and I hate to do it, I think it's probably the wrong thing to be doing, but I'm a fiduciary to a certain extent, and I've got to protect my capital.
I don't understand now what's going on. I suspect that we're now into a high-frequency trading, momentum-driven cascading downturn. And I want to get out of the way of it.
~Barton Biggs, managing partner and co-founder, Traxis Partners, Bloomberg TV, August 8, 2011