What a load of croc. He blames speculators for the recent sell-offs. In times like these, everyone wants to try to find a scapegoat for the reason the market goes down. In 1987 it was program selling and portfolio insurance (nevermind the fact that those played no part in the global wide sell-off...)
People like to point fingers, so in that respect I never tell people in real life that I'm making money from this sell-off.