QQQ - Is A Demographic-Based Secular Bull Market Underway?
2024-02-13 15:51:57 ET
Summary
- The article discusses the potential for a long and enduring bull market driven by investor demography and technological advances.
- It highlights the importance of understanding market behavior over a longer time frame and the need for patience in investing.
- The article also acknowledges risks and challenges that could derail the bull market, such as fiscal deficits, monetary policy tightening, and changes in money supply.
- Despite these risks, I believe that a secular bull market driven primarily by demographic factors has begun.
Introduction
In theory, given sound personal finance habits and a coherent, long-term strategy, investing should be simple. That's the experience of great and famous investors. To paraphrase the late, great Charlie Munger, investing is about buying good companies at fair prices, then waiting for time to do its helpful work.
For the vast majority that entrust their financial and retirement futures to the markets, investing is complicated and even frustrating. They lack the knowledge, self-confidence and patience that the "legends" possess. When markets do not "behave" and go down or sideways, the flight piece of the fight-and-flight mechanism starts to make noise.
This piece is written for all of us not named Munger or Warren Buffett. Its purpose is to look at the next 10 years, approximately, and predict what kind of market investors can expect....
Is A Demographic-Based Secular Bull Market Underway?