What China is doing right now

If Mr. Trump does what he says, Chinese equities certainly are not going to go up.... No equities are going to go up if he does what he says he's going to do. So I'm sitting and watching.

The Chinese are now spending huge amounts of money cleaning up [the environment]. … Healthcare in China's a disaster. They're spending a lot of money to get better and more health care. Parts of the Chinese economy are going to do extremely well no matter what happens to the world. 

When its better to do nothing than something

The way of the successful investor is normally to do nothing -- not until you see money lying there, somewhere over in the corner, and all that is left for you to do is go over and pick it up.