He's no dummy, as evidence of the fact that he's a Director of the Federal Reserve Bank of Richmond.
Quote from their 2012 Annual Report;
"How do you follow up a year like 2012, when so many “stars aligned” with interest rates,
mortgage refinancing volume, and improved metrics across the board? The answer is simple –
we remain focused on balancing long-term growth with short-term profits, we continue to do
the basics well, we remain a great place to work so we can attract and retain talented people,
and we look for strategic opportunities to drive profitable growth."
Watch and learn.....One successful quarter down in 2013, only 3 to go.