Methodical (like Buffett) but audacious (not like Buffet).
The next Buffett?
- Thread starter nooby_mcnoob
- Start date
Good God, no....a guy like Palihapitiya looks like a genius in a tech bull market, but you need to see how he performs during a nasty decade long bear....he pitched BOX at $23 at Sohn last year....down to $17 now...He was CNBC a couple of months ago talking bullish about Tesla - his justification: you have to trust Elon's vision. Again like I said, talk to me about him after a nasty bear.
Buffett benefited from the longest bull market in history... And has himself said he probably couldn't repeat.
He's super rich and we aren't so in that sense he must of done something right... But he really doesn't understand how the global economy works, or even domestic economies work, he had a classic moment few months ago.
https://www.cnbc.com/2019/04/30/fed...-eliminated-recessions-palihapitiya-says.html
“I don’t see a world in which we have any form of meaningful contraction nor any form of meaningful expansion,” he told CNBC’s Scott Wapner during a “Fast Money Halftime Report” segment. “We have completely taken away the toolkit of how normal economies should work when we started with QE. I mean, the odds that there’s a recession anymore in any Western country of the world is almost next to impossible now, save a complete financial externality that we can’t forecast.”
You couldn't even make that shit up even if you wanted to, this guy is a known clown on certain fin twit circles, cause he's super successful in a field he doesn't really understand... Right place right time, maybe ? Buffett has a high EQ and deep critical thinking, I have watched many videos of him talking, there is no denying he is mentally superior then most... This dude said it's next to impossible for Western economies to enter recessions, the ECB has done QE non stop from beginning 15 to end 18, half of EU was entering a recession while they were buying up their Corporate and Government debt, and doing TARP on Italian banks.
He seems to believe that Asset Inflation through State purchases for the minority is somehow going to hold up economies ? china is as centralized of an economy as it can get, the government there owns Everythang, how did QE and non stop money injections work for them ? I don't even think he really understands what the Quantitative Easing program is...
Guys like him are gold, perfect cheerleaders to put on Mainstream Media that fits the narrative, and he gets TV time maybe more AUM down the road ? Win-Win
All I know is the stupidest parents of the stupidest people I grew up with did better than the majority of the stupidest and smartest people I grew up with. Basically, you could have jerked off 40 years ago and done well. I think that time is coming again soon for the current generation but who knows.
Point is that market timing is everything and Buffett definitely timed the market, and likely purely by accident.
Point is that market timing is everything and Buffett definitely timed the market, and likely purely by accident.
I heard this economist speak, and he said 40 years ago when he was growing up in Minnesota, a guy was basically guaranteed to have a job at the local steel mill that would pay him enough to buy a house and raise a couple of kids.
The economist went on to say "back then in Minnesota, a guy would have to actively plan a way to mess up a middle class lifestyle that was waiting for him - drugs, jail, etc. Today, that same guy growing up in Minnesota needs to have a well thought out plan ahead of time in order to be successful - if he doesn't have a plan, he will not be in the middle class."
Sadly accurate. The guy today can do nothing wrong and still end up broke.
Interesting and entertaining for sure, but he speaks in exuberant half truths that hook listeners into believing an underlying deception. A common technique among successful politicians, television faith healers and trading coaches.
But what do I know? He's rich, obviously important and a profane public speaker. I wish him and his world view great luck.
But what do I know? He's rich, obviously important and a profane public speaker. I wish him and his world view great luck.
You said it several times yourself: If you always live below your means, you will be financially secured no matter how much you make:
https://www.cnbc.com/2016/08/29/janitor-secretly-amassed-an-8-million-fortune.html