For the first time in years, Barry seems to be losing his composure. He’s talking over his guest, Mike, and not allowing him to finish his points or explanations. Although Barry invited Mike to his show, he isn't giving him the opportunity to fully express his views. Instead, Barry is taking a defensive approach. Bias can cloud judgment when there’s a conflict of interest.
He understands that if Mike is correct, then his whole philosophy and wealth / income was based largely on a kind of simple Ponzi financial scheme due to what are essentially simple monetary flows. Certainly, this would be hard for any professional to psychologically 'square,' especially if you've been preaching the benefits of 'passive' investing all of these years. The collective psychology behind this industry is fascinating... It is difficult to get a man to understand something, when his salary depends on his not understanding it. Upton Sinclair
I just realized people looking at their retirement accounts with passive money chasing costco at 55x p/e are not that different from retail traders looking at thier gamestop on robinhood in Dumb Money, just less wishful and the expected return is not -100% but probably lags inflation linked treasuries.
it's actually Mike Green not Greene - Brilliant conversation
For the first time in years, Barry seems to be losing his composure. He’s talking over his guest, Mike, and not allowing him to finish his points or explanations. Although Barry invited Mike to his show, he isn't giving him the opportunity to fully express his views. Instead, Barry is taking a defensive approach. Bias can cloud judgment when there’s a conflict of interest.
This was a tough interview to listen to. I wish Barry would have been able to keep his mouth closed.
I felt this was great, well balanced. Typically Green just runs over the interviewer.
He understands that if Mike is correct, then his whole philosophy and wealth / income was based largely on a kind of simple Ponzi financial scheme due to what are essentially simple monetary flows. Certainly, this would be hard for any professional to psychologically 'square,' especially if you've been preaching the benefits of 'passive' investing all of these years. The collective psychology behind this industry is fascinating...
It is difficult to get a man to understand something, when his salary depends on his not understanding it.
Upton Sinclair
This seems like a very censored conversation, I've got to expect a Barry's given this serious consideration, and attempted to quantify
I just realized people looking at their retirement accounts with passive money chasing costco at 55x p/e are not that different from retail traders looking at thier gamestop on robinhood in Dumb Money, just less wishful and the expected return is not -100% but probably lags inflation linked treasuries.