Get ready to see America’s Baby Boomers going bust for the 1st time in their rich lives.
Driving a fast car is similar to investing – the adrenaline rush, the turns, the need to look ahead, the necessity to analyze video later to see where you can gain another split-second advantage, and lastly, the desire to increase the skill of the driver.
The most important thing to remember about the best performing portfolios is that the manager’s obsession with understanding risk, recognizing risk, and controlling it, leads to the most reliable and consistent results.
I just came back from Europe, where the unemployment rate for the young is close to 30% in some of the continent’s most developed nations. The world is becoming frustrated with its existing leading establishment, and Europe is spearheading this movement.