Warren Buffett Isn't Always Right

Warren Buffett is a legend. But if this is true, I completely disagree. Last Friday, I met with someone. He and his wife had just retired. They've accumulated a nice tidy sum. It now has to last them the rest of their lives ... Really, it's gotta last longer. They've taken over as guardians for a grandkid. Don't know how this came up, but he quoted Warren Buffett to me. Yeah, I know, Buffett is the "Oracle of Omaha". That DOES NOT mean he's always right. Furthermore, what he said once ... ➡️ May not be true anymore. In my book, I point to Ben Graham. Buffett is a disciple of Graham. Graham's got two very respected books. The Intelligent Investor is one of 'em. The book still sells well to this day, even though the 1st edition ... Printed in 1949. So, it's a classic. But it does NOT mean it's correct. Just means it's a best-seller. As an aside, this is why I wrote my book the way I did. My book is NOT prescriptive. Lord willing, it'll be just as relevant in 50 years as it is today. Graham's book, on the other hand, he had at least 4 editions. And each edition ... he CHANGED the prescription. Most miss that. So, I don't know when Buffett said this. But if he said it recently, ➡️ Bad advice If he said it ~10 years ago, ➡️ It MIGHT have been true then ➡️ But it's NOT good advice now. Graham wrote advice for a "conservative" investor. He changed that advice with every edition. Being a "conservative" investor today, faces far different risks now. So, don't take Buffett has gospel. Especially, if you're referring to an old quote. This video, like all of our videos is made to help you understand the reality of what is happening in our nation's economy and how that translates to our stock and bond markets - without the hype and without an agenda. We are a fee-only asset management firm, managing money for discerning investors. If you would like to learn more, you can find our website below. Likewise, you are welcome to follow our Founder and Chief