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There’s a lot of money tied up in people who think exactly like him. This is the reality of financial systems. They want “yield” if not is a not performing asset no matter how much it intrinsically goes up. There property which goes up abt 5% a year but gives a yield of about 3%. They’re obsessed with yield but this is who money managers are. Take it or leave it but the vast majority of rich people think like him.

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allen 1y ago

it’s an incredibly fiat mindset. to have real capital so financialized that you can only ever interact with securities, think that is deploying capital, and ultimately mistake capital for money.

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