Buffet and Munger in 2002 explain how mindlessly buying index funds in a low interest rate environment might not be such a good idea.https://www.youtube.com/watch?v=Clj-r1Pzu0w&feature=youtu.be&t=276 …
Is that an accurate description? Buffett repeatedly made the point that index funds are returning 3-4% over time, your other options are probably significantly worse.
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No, not all other options, just that bonds and deposits would return even less. They only agree that index funds are an OK investment because of dollar cost averaging.
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