"ridiculously cheap" yeah but betting they will stay "ridiculously cheap" long term is .... ummmm ridiculous IMHO.
Cheap? The chief capitalist talking his book? Buffet, an icon, but sometimes this guy gets really annoying when he talks out of his ass and sells coca cola and other bs at his annual event for the commoners.
His is the only company in the world that actually make money holding annual shareholder meetings. I attended it once a few years back and from Friday to Sunday, he set up tents selling all sorts of BRK products, from cheap souvenirs, See's Candies, furnitures. diamonds to trailer homes.... You have to get pass all the displays to get into the conference center. It is like going through airports.
And that is what I criticized. It's stupid and takes the focus away from the main point of the event. His company has not beaten the SPX now for 8 years. Perhaps selling shit to the gullible at the shareholder event is his way to edge out those few extra basis points? But my point was that stocks globally are not cheap. They are incredibly overvalued for the value they return. The only reason stocks trade higher is because of capitalist ponzi in play. As long as another guy buys the tops the rich get richer and equities even more overvalued. Have you noticed the many companies that trade at over 1bln valuations yet produce losses year after year? Yet some of their CEOs rather put all their money into exploring a remote planet that is as hostile to human beings as could possibly be instead of pouring funds into making solar and wind energy more efficient or turning ocean water into drinkable water. We are living in very strange times. I am hoping for another world war every day I wake up. Humanity has gone nuts and is bored to death. Time to push the reset button.
Yes and the point is that Dalio is pushing MMT and whatever else so that the stock market gets yet another leg up. Buffet here is saying that if interest rates remain low, stocks are going cheap. He also says he can't imagine how the fuck they can stay like this.