Spencer Jacob

I don't think that the economy or taxes or capital gains or anything like that or any even an election or who sits in the White House has any effect on him because it's also short term.

I don't think that the economy or taxes or capital gains or anything like that or any even an election or who sits in the White House has any effect on him because it's also short term.

Well, he hasn't said anything to that effect, and there isn't a lot of evidence that we're on the precipice of a recession. But there's widespread thinking among people who follow him that he just sees the market as too expensive. You know, something, the pendulum has swung really far one way, then it's got to swing back the other way. You just don't know exactly when.

Well, he hasn't said anything to that effect, and there isn't a lot of evidence that we're on the precipice of a recession. But there's widespread thinking among people who follow him that he just sees the market as too expensive. You know, something, the pendulum has swung really far one way, then it's got to swing back the other way. You just don't know exactly when.

Well, he hasn't said anything to that effect, and there isn't a lot of evidence that we're on the precipice of a recession. But there's widespread thinking among people who follow him that he just sees the market as too expensive. You know, something, the pendulum has swung really far one way, then it's got to swing back the other way. You just don't know exactly when.

So Goldman Sachs recently came out and this got a lot of attention. They said, we think that the stock market over the next decade, the S&P 500, which is the main stock index, is going to return 3% a year.

So Goldman Sachs recently came out and this got a lot of attention. They said, we think that the stock market over the next decade, the S&P 500, which is the main stock index, is going to return 3% a year.

So Goldman Sachs recently came out and this got a lot of attention. They said, we think that the stock market over the next decade, the S&P 500, which is the main stock index, is going to return 3% a year.

People are like, what? Are you crazy? 3% a year? You know, what are you smoking? But that is consistent with some other measures out there. Vanguard, for example, sees growth stocks returning even less than that.

People are like, what? Are you crazy? 3% a year? You know, what are you smoking? But that is consistent with some other measures out there. Vanguard, for example, sees growth stocks returning even less than that.

People are like, what? Are you crazy? 3% a year? You know, what are you smoking? But that is consistent with some other measures out there. Vanguard, for example, sees growth stocks returning even less than that.

Yeah, it is not in a bank, so you don't have to worry about a bank going bankrupt or being robbed or something where Warren Buffett keeps that cash. It is primarily in U.S. Treasury bills. If Warren Buffett tomorrow decides he needs cash, he could sell $100 billion of Treasury bills. It is as good as cash. And it's also safer, right?

Yeah, it is not in a bank, so you don't have to worry about a bank going bankrupt or being robbed or something where Warren Buffett keeps that cash. It is primarily in U.S. Treasury bills. If Warren Buffett tomorrow decides he needs cash, he could sell $100 billion of Treasury bills. It is as good as cash. And it's also safer, right?

Yeah, it is not in a bank, so you don't have to worry about a bank going bankrupt or being robbed or something where Warren Buffett keeps that cash. It is primarily in U.S. Treasury bills. If Warren Buffett tomorrow decides he needs cash, he could sell $100 billion of Treasury bills. It is as good as cash. And it's also safer, right?

That's right. It is the safest and most liquid investment in the world. It's not the most profitable investment in the world. But at the moment, they're paying a decent interest rate.

That's right. It is the safest and most liquid investment in the world. It's not the most profitable investment in the world. But at the moment, they're paying a decent interest rate.

That's right. It is the safest and most liquid investment in the world. It's not the most profitable investment in the world. But at the moment, they're paying a decent interest rate.

That is a lot of money, but on $325 billion, I mean, you're talking about $15, $16 billion a year, which for you or me is a lot of money.

That is a lot of money, but on $325 billion, I mean, you're talking about $15, $16 billion a year, which for you or me is a lot of money.

That is a lot of money, but on $325 billion, I mean, you're talking about $15, $16 billion a year, which for you or me is a lot of money.