Comments
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DCLess labor to build a house? Only if robotics can run electrical wires, copper plumbing, install toilets, lay flooring..... etc...
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HKIf your kids have no background in computer programming it really will be the equivalent of not learning how to read in this century and century before. Home building will not take nearly the amount of labor in the past due to technology breakthroughs especially in 3D printing and in the time frame he mapped out. Interesting interview nonetheless...
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ROWhat if the home buyers that he is counting on choose renting to maintain optionality? He is making the assumption that this next generation has the same priorities and wants that his generation had. Past performance does not guarantee future gains. His view of energy appears too simple given the other recent discussions on Real Vision. And lastly his bank investments probably assumes that another GFC does not take place. It wasn't that long ago that you could buy BofA at $3 or $4 dollars and flip the stock for 50% gain in a few days or weeks.
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JFNot sure his demographics quotes are exact . But I agree that parents, deriving very little on their income, may help their kids. That is assuming we don't have another GFC that wipes out the boomers savings. But i like his idea on investing in things people are addicted to. Can we get Jim Rickards on. I have just read a few of his books.
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WMNot convinced by his house building enthusiasm. Opportunities for good salaries that existed in the 70s are not there today. Student debt represents a drag on further debt accumulation. The social security and medicare spending bust is upon us. Interest rates are turning up and weak companies are going to go under in droves. The psychology of the nation is turning negative and the threats to growth are legion. I see a lot of positive comments from viewers, and the guy is enthusiastic and entertaining, but its all too evangelical for me.
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NGEnjoyed his interview. Although many have argued viewing Amazon from a gross profit dollar perspective considering it invests heavily. Until now, for a lot of people it was cool to shop on Amazon as distinction between high income and low income faded away in online retailing. But now these low income shoppers are in fact beginning to realize how their livelihoods are taking a hit. When the next recession hits, sales growth at Amazon is poised to take a significant hit and that's exactly when street wakes up from the reality eventually sales growth slows. One should ask yourself can Amazon continue to grow perennially at such a pace. If there's so much consumer stickiness why continue to invest that heavily . Mr. Bezos knows he needs growth narrative alive.
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NHWith 40 percent of millennials still living at home and many paying off student debt, he may be a little early for buying homebuilders
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PSThe assumption that people are transitioning to 2 kids, a mortgage and 'local news' is a stretch
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JcI thought the housing dynamic was one of major oversupply as boomers die off. Sure they retire at 55 and live in their house until 70+, but aren't there going to be more 70 year olds per year than 35 before too long? And once that starts it will happen year after year after year. i could be wrong on that.
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CMI went to the U.S. census website to do some fact checking. I suggest others do the same. I don't see the Tsunami in the data. That being said, you gotta love his enthusiasm.
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MBThe interview has two parts. . The first part was a real disappointment. In my former life I was a mutual fund analyst and interviewed over 50 managers a year. He is very passionate about value investing which is nice. But we all know why value works etc. and I sometimes had the impression that I'm listening to a preacher instead of teacher. You really saw that when he talks about Amazon. There are brilliant minds like Bill Miller who buys this stock as a value investment AND can explain in detail why. I was really disappointed when I look up his fund holdings. Berkshire Hathaway was a top holding. I don't say that it can't be a value stock. My point is that BH is like a fund itself and can therefore be hold by an investor separately. I would expect him to find other great value investments. And here comes the next disappointment: one of the big holdings is American Express which is already included in BH. The second part about demographics was very well explained and shows his ability to see the bigger picture. I don't share his view about computer science students. Overall I was very disappointed. I compare it to the managers I met. Therefore I'm may be a little harder on the verdict than other people here.
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ddWow .. totally a different take on things. Never gave the issue much though. Great ideas to start digging into the demographics ... besides baby boomers.
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LMParent-funding has become the norm here in Norway at least. More or less double digit price increases every year for twenty years, and millenials can't afford the downpayment (or higher interest rates). So his theory on that has merit.
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NRBrilliant.
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DSSo much actionable info here, a really fun interview too, get this guy signed up for his next interview in 3-6 months.
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NAwtf is this
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WPThis seemed more like an extemporaneous monologue than a coherent think piece.
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AHPerfect! Super!
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DBNow that is a passionate gentleman.
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ADI am continually amazed how RV can produce, out of left field, such "unknown" but thoughtful, dare I say brilliant people. I don't agree with all his points. For instance: How can you possible know the "value" of a bank these days, let alone BAC. But even so, this presentation makes me think of a piece of music by Aaron Copland.. I call it "genius for the common man"
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JVJust awesome.
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SSSounds like life is coming full circle. I grew up with real estate, real assets, things that mean something but have been living with the opposite for many years. I can't wait for the real world to return. I believe there will be a huge correction in some form or fashion, opportunity will be knocking in a big way. Can't make the transition without pain to the un-real world of today. "Real" Vision TV is real world and this episode hits the nail on the head. Love it. Thank you.
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ADThis greatest inter-country migration he talks about at 15 min mark- what States/cities in the US are going to be beneficiaries? Did I miss it or did he not say?
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IZi have been waiting for my 25-29 year olds to get married so i can bribe them back close to home with a house down payment. this guy is absolutely correct on that one!
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CMI have been shopping for a home in the Los Angeles area for the last eighteen months and have witnessed what the gentleman describes here on numerous occasions. Young families are indeed house hunting with their parents. WOW !! I guess will have to reconsider my pessimistic view on real estate valuations.
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JKLOVE this guy!
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TPI had no problem staying awake listening to this gentleman!! Excellent speaker with excellent content! Bring him back anytime!
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AHLove this guy! Bill's passion is contagious. Enjoyed his candor. Bring him back.
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CANeil Howe and Harry Dent might have a different opinion on the demographics with housing in the next five years?
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SLBased on his hyperactivity, I'm guessing he's a good Starbucks customer. This is probably the 3rd presentation that mentioned the Millennial tsunami that's about to hit. I'm a boomer who has recently noticed a LOT of Millennial couples I interact with are pregnant. Just sayin'.
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DDI freaking love this guy. You meet up for a beer and start talking shop and suddenly the waitresses are in your lap and you're closing the bar down.
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SDAMZN might make $4.50 this year, who wouldn't want to pay $817 for that? It took them a mere 20 years to get to a place where they could break even. But if I laid all the people burned shorting AMZN end to end it would stretch for 100 miles. Value investing is a tough discipline.
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SCMakes good points for value investing.
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RVThought provoking! Demographics is so important. Maybe Harry Dent would be a good interview?
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RPThis is uncommon common sence investing
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GBI enjoyed this. Nice to hear some themes from a long only guy. Real Vision has had this in awhile.
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GCEntertaining. Valid point raised about investment time frames, most people don't have the patience or mindset for the long term and want to get rich ASAP.
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AGSometimes RV is good for some real characters. Nonetheless, this was very informative.
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GAVery passionate person talking about value investing, that's what we need all the time!!!
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JCloved it!
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JSLoved it! He made me laugh and he really made me think. Get him back soon.
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IASo entertaining. I need to meet him in person!
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NG@Enrico F. Lol :b
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NGI really liked it. Good to hear some old-school common-sense investment facts between so much macro-sophistication. Loved the energy and the positivism. Thanks RV!!!
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ACNothing beats informed enthusiasm! This is one of your better shows...little stage drama, just great thoughts presented with passion. Art C
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RMHighly amusing and entertaining (and also very enlightening) - really enjoyed this!
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PSNow that was fun.
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JLthe best thing you can own is a company where your customers are addicted? nice 1, good thing you go to church pretty often
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RMWhat I very much enjoy about RVTV is 1) The diversity of opinion 2) The time you give folks to make their argument Well done!
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DGHow could he just dismiss the student loan debt problem? They're already making a mortgage payment, they just don't have the house!
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JSI loved the high energy nature of this piece, thanks! The last point regarding baby boomers handing cash to grandchildren entering the property market seems, in my experience at least, to already be happening where I am from. The demographics perspective gave a lot of food for thought, thanks again.
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RSI enjoyed the demographic perspective as it relates to financial markets. Thank you.
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BLReally enjoyed this interview. Very non-consensus and positive as well.