So what is stopping anyone from getting richer than Buffet in the last 20 years? You are basically saying hodling Gold is a easy way to outperform one of the richest people in the world. I wonder why poor people existpic.twitter.com/cQq4sJcSKU
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Replying to @hangzix @charliebilello
Berkshire substantially outperformed gold in the 60s (when its price was artificially fixed) and the 1980s and 90s (when boomer demographics and tech progress gave us big economic growth). It underperformed in the 70s and was a wash in the most recent 20 years.
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The Buffet/Munger strategy depends on finding productive business opportunities & moving capital from mature to growing companies. Now sitting on tons of cash because there are few productive opportunities given the declining demographics and tech stagnation.
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They performed rather poorly during the crisis years of the early-to-mid 1970s. (As did the stock market in general. But gold greatly outperformed them both).
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Replying to @AndyPeyton @NickSzabo4 and
Gold also outperformed the stock market in those years.
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Replying to @westurner @AndyPeyton and
Wes Turner Retweeted Wes Turner
Wes Turner added,
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Replying to @westurner @AndyPeyton and
Wes Turner Retweeted Wes Turner
Wes Turner added,
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Replying to @westurner @AndyPeyton and
Wes Turner Retweeted Wes Turner
Markets seem to optimize for short-term returns (with no regard for long term
#suatainability)https://twitter.com/westurner/status/1045962702563266560 …Wes Turner added,
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And politicians who go on and on about sustainability or Green New Deals are usually trying to optimize their even short-term political prospects. YMMV.
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Replying to @NickSzabo4 @AndyPeyton and
Government spending was up during periods where people have claimed that trickle-down economics were solving. What form of government spending do we get domestic returns from, should we engage in during periods like the great depression and great recession?
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Replying to @westurner @NickSzabo4 and
Significant investment in green jobs would save us money on disaster relief (and keep money flowing through a recession)
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End of conversation
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