Thursday, December 18, 2014

Current generation not as fortunate as previous

These people [current generation] will not enjoy the compounding impact that I enjoyed having started to work in 1970 when bond yields were 6% and they went to 15% and so forth. 

So during that period of time wealth was accumulating very rapidly plus we had a huge boom in real estate and in equities and bonds between 1980 and 2007. That is not going to happen again.