Feed a man a fish, feed him for a night.
Teach a man to fish, feed him for a lifetime.
Teach a man to reason from first principles, he can teach himself to fish. Then he can invent a better fishing rod and feed a billion people.
He's not wrong
*DALIO: CAPITAL MKTS ARE NOT FREE MKTS DUE TO CENTRAL BANKS
*DALIO SAYS FED PURCHASES ARE THE DRIVER OF THE MARKET, ECONOMY
*DALIO: CENTRAL BANK BALANCE SHEETS ARE GOING TO EXPLODE
"Fed projects near zero rates through 2022" - because they know if interest rates ever rise substantially this whole house of cards comes crashing down
Amazed at how many people are saying Buffett is too old because he expressed caution and missed the "bottom".
Have they stopped to consider that maybe he's right to not want to buy 20x P/E shitcos during the middle of a massive recession with an unknown duration?