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Munger warns of lost decade for investing (2021-2031)

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  • HoustonHusky
    HoustonHusky Member Posts: 5,999
    Pitchfork51 said:

    I still think that healthcare is such a ridiculous pit of scammery that I don't even know.

    I've never been in this industry and the shitty clients that we have that are completely incompetent yet billing medicare for 10 times the value of the goods is sickening.

    This one joker that was scamming medicare with the aid of a corrupt doctor tried to get me to backdate all the shipments to 2019 that went out in January. (He put in the order on new years Eve while I was watching the asu fsu shitfest at a bar)

    Then stiffed us for 300k

    Lol if you want a laugh google christopher parks medicare fraud

    Agree on health care...I’m invested a lot in biotech. Risk/reward is nuts in that sector, especially on the small-cap side. The drug companies own the Democrats so should be fertile for the next 4 years.
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  • godawgst
    godawgst Member, Swaye's Wigwam Posts: 2,554 Swaye's Wigwam
    creepycoug said:

    doogie said:

    S&P is a great call. set the cash flow in, minimize expenses, leave it alone and you will beat 90% of Professional Money managers.

    This right here is a great point of discussion. The CAO at my old company - a rain man kind of figure - smartest fucking accountant I've worked with. Super conservative guy. He always said just that: retirement money, I just want the market. I don't want to try to beat it and get burned. With my (his) income, I don't need to swing for the fence. I just need to get on base and it will take care of itself in the long run.

    60 + % of my 401-K is S&P.
    You will beat at least 90% of all money managers and it's probably closer to 95%

    One other little tip. Want to know how to make your kids or grandkids millionaires? Take $3000 and put it into NAESK (vanguard small cap fund. .17% expense ratio, dividend a little over 1%) the year they are born.

    REINVEST THE DIVIDENDS, and if by some chance you can keep them and anyone elses hands off the money, it will be worth about 1.2 million when they hit 65.

    Mom did that for her grandkids about 16 and 13 years ago, and in all three cases it's on track to do just that.



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  • DerekJohnson
    DerekJohnson Administrator, Swaye's Wigwam Posts: 68,416 Founders Club
    I love this discussion. Even if it is sobering.
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  • 89ute
    89ute Member Posts: 2,485
    Munger is right, things have changed. Most things I don't understand, but I do understand that they way you look at markets now compared to what Munger has done over the last century, including what I was learning in the 80s - it just don't play anymore. Ask the guys shorting TSLA over the last year because it's PE ratio is so funking high ... . It didn't work.

    As for a few years out - could be bad, Like Munger said, can't predict when the bubble will pop.

    For now, stonks only go up.
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  • creepycoug
    creepycoug Member Posts: 24,046
    89ute said:

    Munger is right, things have changed. Most things I don't understand, but I do understand that they way you look at markets now compared to what Munger has done over the last century, including what I was learning in the 80s - it just don't play anymore. Ask the guys shorting TSLA over the last year because it's PE ratio is so funking high ... . It didn't work.

    As for a few years out - could be bad, Like Munger said, can't predict when the bubble will pop.

    For now, stonks only go up.

    I plan to work another 7 to 8 years. I hope it pops soon so we? can buy shit up and have time to rebound.
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