@GldnCalf I know, I reported it over a year ago.
The inner circle looked the other way 🫣
Now that contracts are cut and the cash cow’s gone, they’re finally noticing things 🍼
Funny how a month ago it was all a Disney fairy tale
Warren Buffett underperformed all bubble periods, was written off every time, and yet, in the end, outperformed almost everyone in the very long run.
He missed the following… 👇🏽
1) He underperformed the Nifty 50 bubble in the early 1970s. He actually sat out the whole thing all the way to the peak.
2) He underperformed the dot com bubble in the late 90s, and many people wrote him off, claiming “he lost his touch”. He didn’t own a single internet or tech name. People laughed and ridiculed him for years.
3) He underperformed the commodities bubble in the early 2000s. He didn’t own any miners, any commodities (including gold), and had virtually no exposure to emerging markets by their peak late 2007.
He is now underperforming the AI bubble too (even though he recently retired). The ChaptGPT moment occurred during the 2022 bear market and Buffett has not bothered to purchase even one AI stock since.
Buffett never felt the emotion of FOMO or never thought that his opportunity cost is crowds insanity (bidding up stock prices). And yes, despite underperforming during every single bubble period, he achieved an incredible CAGR track record that almost no one can match (and might never match it in the future).
You don’t need to catch everything. We are not playing Pokémon. This is intelligent investing and you should only strike at fat pitches and no brainers.
Avoid everything else.
And remove emotional decision making (formally known as affect heuristic), including envy. It really doesn’t matter if your neighbour is getting richer faster than you are with AI hype.