If you’re worried about the economy, watch this.

15 Dec 2023 · 1 min

Watch on YouTube

1:00

This content was created by Eric Siu. This content was uploaded by Eric Siu. This is a YouTube video titled "If you’re worried about the economy, watch this." (posted 2023-12-15T22:30:05Z) containing a single-speaker commentary about macroeconomic outlook and investing strategy. The speaker references a George Gammon prediction about a near-term recession and invokes Charlie Munger to argue against short-term market timing, emphasizing long-term thinking. The speaker states a personal view that home prices will rise ~50% over three years and advises focusing on long-term growth rather than worrying about what happens in the next 6–9 months.

Chapters

Do you think anything drastic will happen in the next 6 to 9 months? Because I was watching actually a George Gammon video. This is months ago. He's like, by June of 2024, this is when the recession happens, right? So like, what is your take on it? Or is it just we're just going to continue to crash up, which I feel like we've been doing for the last couple of years? So we don't have a crystal ball. And I'm going to answer that question. But I'm going to first going to say, who cares? And what do I mean by that? Nothing good in your life comes from short-term thinking. All growth comes from long-term thinking. Charlie Munger, who just passed away this week, RIP Charlie Munger, he said that the big money is not made in the buying and the selling. The The big money is made in the waiting. Okay, so all good things come from taking time. So who cares what happens in the next 6 months? I want to know what's gonna happen in 3 years from now, or decades from now, right? So it depends on your timeframe. So for me, I'm pretty confident homes will be up 50% in 3 years from now. What happens in the next 6 months to homes? I don't really know. Now, some people want to be this trader and, well, but if I just wait 6 more months, I get a better deal in 3 years. Does that matter? Right? Charlie Munger says it doesn't. I would rather take that time, effort, energy and put it into something that can make me more money.