I know we have discussed this elsewhere including the thread I started regarding Buffett, I did read his biography, and I think where we disagree is that Buffett’s advice for the masses is questionable considering he has no alternative to saying what he is saying. Buffett is so big at this point that he cannot help but be “of the system” and therefore a rah-rah cheerleader for it. Even though we have all the evidence in the world regarding systemic problems and moral hazards, we are 10 years into this cycle and all Buffett can continue to offer, despite record valuations, is “if they drop interest rates even lower, equities are cheap, everyone keep buying stocks and if you get a chance to drop by Omaha, buy some furniture and jewelry and a T-bone steak.” It’s intellectually dishonest of him. Not unlike Dalio going on CNBC and saying capitalism isn’t working, as if our moral hazard system is true capitalism. If one of them just said “valuations are only sustained by never-ending liquidity and Wall Street bailouts forever and ever Amen” that would be truly “radically honest” and “principled” but no they aren’t saying that. They can’t say that.
So while I understand that buying Vanguard funds is empowering to a newbie who feels overwhelmed, and has helped most who have started investing in the last 10 years, I think it behooves anyone who thinks we have not reached a permanent plateau in stock prices to look under the hood and research more sophisticated strategies and tactics.
Notice Dr. Fisker, who does not run a multi-billion dollar holding company, advises some measure of caution. He and I probably just disagree as to what a better store of value is.
@OP
Tyler’s website is a great resource and tho I’ve never read it I am sure the book Dr. Fisker recommended is also.