So buffet, the market genius, basically tracked the s&p. What a fucking legend, Derp!.
In his defense, I hear he was better back in the 80’s when industries he understood better were the big movers. I guess he didn’t do as well in the tech era.
He also has the problem of managing such large amounts of money that entire firms watch him and moving things around can crash assets while he is selling them. That probably wasn’t as bad for him in the 80’s.
Right now he is moving a large percentage of the money he manages into US treasury bills in anticipation of a major market crash. He is missing out on some gains because he has to start that move early. He’ll be looking good when the crash happens though.
Interesting article kinda making my point.
https://www.zerohedge.com/geopolitical/all-dominant-models-are-collapsing
I’ve heard about the same thing elsewhere. Some call our current system a debt‐based ponzi scheme. I’ve also heard we will go into a commodities cycle after the current financial / technology cycle collapses. To me “commodities cycle” means we will once again value tangible things, not things with speculative future value.
Certainly lose the first mover advantage at the size he is. First mover is a big deal for big gains.
When the crash happens dollar goes to zero. QE infinity incoming. Be in hard assets when it happens to bring your purchasing power through to the next system. It's inevitable due to the fact the dollar is a fiat currency.
My cut at buffet is the cult following rather than true insight. It's a fake market and the fact that a person as knowledgeable as buffet couldn't do better than the rising tide proves it. The fed dumps money into the market any mistake made is covered. Hard to lose anything in that kind of environment. Then there's piglosi. A drunk with no market experience blows it out of the park. Yup, fundamentals are fucked.