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Warren Buffet Made An Astonishingly Wrong Prediction

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Danielle
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"In November 22, 1999, Warren Buffett gave a speech in which he famously said he didn't invest in technology stocks. His rationale was that you can't predict who the winners and losers will be, only that society usually benefits. He cited the auto and airplane industries as losers for investors but winners for society. Anyway, on to Buffett's bad prediction - in the speech he noted that the next 17 years of returns for equities would probably be lower than the spectacular returns from 1983-1999 (true), but that the standard of living for most people would be much higher."* The Young Turks host Cenk Uygur breaks it down.

*Read more here from Matt Stoller:
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