When billionaires make statements in the media, they're not attempting to speak directly with each member of the viewing audience. They certainly don't know the financial situation of each and every person who hears their words.
Warren Buffett, Jamie Dimon, Stanley Druckenmiller and George Soros do not know you. And their own financial situation is probably nothing like yours. While they may have interesting views about the world, the economy and the markets, very little of it is applicable to your current situation and your financial plan.
Ben Carlson wrote a post examining why the statements from billionaires do not represent anything even approaching advice. Michael Batnick and Josh Brown discuss why it's so important to separate the wisdom of famous investors from what will actually work in our own lives.
Read Ben's post here:
http://awealthofcommonsense.com/2018/09/dont-take-asset-allocation-advice-from-billionaires/
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