In fairness, it was the fastest such recovery , ever. It was like someone just flipped a switch?
Who could have predicted that? Oh wait, I did. And other things that have happened and are happening. I say this not to blow my own horn, but to show by contrast how anachronistic Igy’s thinking is.
The substance of his rant is not without merit under certain conditions, but it is now not the whole picture. There is now more, that Igy hasn’t (yet) incorporated into his view.
Everyone should be adaptable, it serves them better. Igy seems to still invest like it’s 1978, but he doesn’t always walk the walk. He is a participant in the speculative bubble otherwise known as the housing market, and is equally a participant, by way of his mortgage, in the cheap money scheme that he decries, and that he is so quick to condemn others for using to make buybacks.
So take what he says with a grain of salt, just like you should with every other poster here, and don’t let it get under your skin.
