I am a a Buffett / Munger Disciple

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For my retirement accounts I am a Buffett / Munger investor - Low cost SP 500 and have been investing since out of college. All the things they say - I agree - but America is rapidly changing - I still believe in her but there is some concern. Munger and Buffett have never seen our Fed and Treasury in this position - is their philosophy for the last 40 some years no longer relevant? Part of me wants to move to cash and simply collect the interest. Charlie says if I am not able to stomach 3 or 4 50% downturns in my lifetime, I am not fit to be a common shareholder.

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It was a good strategy for boomers but it feeds into the retirement bubble ideology

It totally makes sense when the country is getting better and growing and everything is great, which it was for buffets whole career up until about 2007

Now things are getting worse with no end in sight, why wouldn’t the stock market follow this trend? You gotta consider how much boomers as a whole could sink into the market when their 2 story house was like 35k and their cars were 5k. The average millenial will never afford to be able to put any money in so it’ll keep going down as boomers pull out

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America is rapidly changing - I still believe in her but there is some concern.

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There's no other country that's in as strong a position as the US is in at the moment.

If the US is struggling right now, the rest of the West is entirely fricked.

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Now things are getting worse with no end in sight

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This doom porn seems to have infected you all. Have you ever heard the saying "the market climbs a wall of worry"? If we plucked the 20 worst headlines of the week from ANY week in the past 150 years, the correct predictive narrative would have seemed to be "getting worse with no end in sight".

The reality is, the US has:

the closest thing to energy independence of anyone in the world (yes, at the margin, Biden is fricking with that, but also he's begging for more drilling. It's a red herring)

the global reserve currency

a strong winning hand vs China (which likely leads to the re-shoring/onshoring of lots of economic activity

the most innovation in virtually all industries


Betting against the US is silly.

Now, does that mean stocks are screaming by RIGHT THIS SECOND? No. At 18X or whatever, it's hard to think that's the launching pad for a bull market. So it's OK to be defensive.

But very much so, Berkshire's strategy of essentially owning a share in the corporate earnings engine of the US economy is a winning, long-term approach.

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The average millenial will never afford to be able to put any money in

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False

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it’ll keep going down as boomers pull out

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It'll likely trade in a range of earnings multiples right in line with long-term history

You forgot to mention forthcoming credit default by US government because they will never ever cut spending because it will cost them votes.

Once we allowed people not putting into the system to vote, the downfall became inevitable.

Crypto bros always rooting for chaos and downfall of America.

America and the world as a whole has never been better.

Step back, touch some grass.Turn off the doom news that's infected your mind.

Bright future ahead for everyone!

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This doom porn seems to have infected you all. Have you ever heard the saying "the market climbs a wall of worry"? If we plucked the 20 worst headlines of the week from ANY week in the past 150 years, the correct predictive narrative would have seemed to be "getting worse with no end in sight".

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You don’t have to watch the news you just have to open your eyes. The average American is 300 lbs, non binary, with funny colored hair, ironic tattoos, on 3 government checks and 6 types of mental illness medicine.

Maybe it was our success that brought about our downfall but all I know is that it’s here. They’re gonna act like the fema camps are based on if you voted for trump or not but really you’re gonna get sent there for lifting weights

Sorry bro america has been canceled

You can’t even eat apple pie in public anymore because it’s not gluten free