Wide-eyed teleprompter readers, most of whom have little savings to lose in the first place, nor any expertise or clue about how to protect and grow money, are having a heyday at the moment hammering anyone with actual investment discipline who is expressing concern about downside risk.
The fact is that those who have their own established rule set, don’t need to insult or belittle the approach of others or convince them to abandon their discipline and follow the crowd. Only those who are lost with no plan themselves, do that. This clip is actually comical in a pathetic sort of a way. Here is a direct video link. Bill maintains civility pretty well in the circumstances.
It is always the same. When the downturn hits, the same crowd will blab on about how no one saw it coming. Many of them will lose their jobs as shows get cancelled, hosts shuffle stations and strategists try to obliviate their capital-devastating track record by rotating to other firms. In the land of the blind, the one-eyed man is king.
Marc Faber has also been getting slammed the past few months for continuing to express facts about the outrageous risk in current asset prices. He managed to get in some good points in this clip.
