Day 2: Jeremiah Seidman & Weston Nakamura
Millennials & Gen-Z, now the largest generation, are endlessly scrutinized, criticized and analyzed, but are grossly underrepresented in the conversation. @Jeremiah S (Gen-Z) & @Weston Nakamura (Millennial) have a frank discussion and offer perspectives on markets, capitalism, higher education, politics and more in the unspoken, final frontier of social divides: the inter-generational conflict.
Thanks Guys, that was incredibly helpful. As a Gen x (guilty as charged) investor, its great to hear how
younger people think about the world and the future. This could only happen on Real Vision so keep it
coming! Will
You know what will potentially piss me off even more about these 60/40 Buy/HODLers?
There is a possibility that any major shocks to their portfolio will be bailed out by the powers that be, such that when all is said and done; they will tell us: "Haha, see we told you so! Look at how well our 60/40s have survived", remaining completely oblivious to the fact they blindly avoided complete financial ruin and will never know why or how.
Meanwhile, future generations get to eat up their gambling tab as older generations graciously say "You're just lazy".
Haha yes I feel a similar way. Things just really seem twisted and the financial system does not appear to be serving the younger generations very well.
This is why I believe it is so important to learn to trade nowadays. I just don't see any asset class being a great buy and hold; potentially crypto, but what if we are all wrong and crypto doesn't work out for whatever reason? What else can we get into?
The answer to me is learning how to actively manage money via trading such that market environment and risk-free rates do not have as large an impact on wealth.
In an environment where wages are stagnant, job security is non-existent and long term capital real returns of most assets are probably negative we NEED other ways to generate and maintain wealth other than through a job/buy and hold equities.
How do you feel about buy n hold + rebalance? Active Passive light?
My comment was a less a comment on the portfolio itself but more on the people who insist that everything is fine, just buy and HODL 60/40 because 60/40s always go up and if anything goes wrong then don't worry lol FED will bail us out.
Got it. thanks for clarifying 👍
I appreciate the perspective. Looking forward to hearing more.
A few points that listening to this fantastic conversation brought up for me:
Education
Universities are hedge funds, haha I heard another one "Universities are pension funds with a school attached to it for Tax purposes."
On Housing:
What about this?
" We can relate more to each other because we live in the basement" 😂
World politics
MBS & Kim are millenial but I mean @Weston Nakamura those two guys aren't fluffy furries ( like a Beto) or Kumbaya Kind of dudes 😂
Wealth Transfer
@Weston Nakamura you spoke about this wealth transfer before but aren't genX'ers first in line to inherit from the Boomers?
Work
Newly graduated not finding jobs has been happening for a little while now, remember this cover? ⬇
I think many Millenials just started their own things (gig economy) and it's too soon to tell how this will all turn out.
@Jeremiah S you see what @Sam Colt has done ↑ ..THIS is what it feels like to be on the receiving end of this type of facts and evidence based, relentless digging, researching, questioning and cross-citing for any bit of BS that you do when youre doing the digging. nice work Sam!