So I’ve been in ‘crash position’ or as I prefer to call it, Maximum Protection Theory, since November 2021. With a nearly 50% allocation to gold and silver, I don’t feel as if I’ve missed much by being a non participant in the equity madness. (Although I do own some jr miners and no you can’t ask me how that has worked out).
And now Dan has given me cover to be able claim I’m smart, once it all melts down.
I'm also always too early/wrong :) and have a very concentrated, atypical portfolio that has done very well over the long term. It's possible to not just buy MAG7, it's just not popular. Having no FOMO helps.
Wife and I bought a house when we were married in 1990 at the age of 28. It cost $40k at the time, and was just sold for just under $350k. The house we bought 20-years ago is now valued at twice what we paid. I see all these 20-somethings living at home, and it's quite depressing knowing they'll likely NEVER have the opportunities we enjoyed.
The AI article was great, but I would have sworn you posted to SS when I read it months ago. I look forward to reading the "Terrified" article.
I hate PE people more than I have ever loved my wife, and only slightly less than my children.
Michael Lewis' Boomerang covers the impacts of the 2008 financial crisis on local municipalities. A few places in CA had no functioning fire department, police department, or city government. Vallejo and some other cities declared bankruptcy. Many commercial properties and developments were left abandoned for years.
the truth has become unbearable
Dan Rasmussen: Smart people are always too early.
So I’ve been in ‘crash position’ or as I prefer to call it, Maximum Protection Theory, since November 2021. With a nearly 50% allocation to gold and silver, I don’t feel as if I’ve missed much by being a non participant in the equity madness. (Although I do own some jr miners and no you can’t ask me how that has worked out).
And now Dan has given me cover to be able claim I’m smart, once it all melts down.
I’m so excited.
I'm also always too early/wrong :) and have a very concentrated, atypical portfolio that has done very well over the long term. It's possible to not just buy MAG7, it's just not popular. Having no FOMO helps.
Randomness:
Wife and I bought a house when we were married in 1990 at the age of 28. It cost $40k at the time, and was just sold for just under $350k. The house we bought 20-years ago is now valued at twice what we paid. I see all these 20-somethings living at home, and it's quite depressing knowing they'll likely NEVER have the opportunities we enjoyed.
The AI article was great, but I would have sworn you posted to SS when I read it months ago. I look forward to reading the "Terrified" article.
I hate PE people more than I have ever loved my wife, and only slightly less than my children.
Yes, i did post excerpts of that AI article a while back because the other article reminded me of it.
Melody says the next housing crisis might bankrupt municipalities. Rudy, how do you think a bankruptcy like that might effect the locals?
Michael Lewis' Boomerang covers the impacts of the 2008 financial crisis on local municipalities. A few places in CA had no functioning fire department, police department, or city government. Vallejo and some other cities declared bankruptcy. Many commercial properties and developments were left abandoned for years.
https://www.ppic.org/wp-content/uploads/content/pubs/op/OP_398OP.pdf
That moment from Shawshank is really magical.