<Buffett says that if you hold for 30 years you should be OK> Contrary to MYTH Buffet does NOT Buy and Hold mindlessly.
He buys cheap and SELLS when he judges an equity to be full value .
He does not buy and go away.
He also is making money more and more by owning companies, and is avoiding equities except for those FEW stocks that meet his criteria.
Buffet saying if you hold for 30years, what are 10 you years old???:) The 30years routine i suspect is just a kind answer for those buried in the red( but young), and he has yet to recommend buying this market.
Gees those at 50 can then count on really having a ball when they are 80.
A month ago i saw that the average 401k contains 43k in assets. That, for me, is a frightening statistic; at this point in time there are obviously many millions that are trapped in a plan that just is NOT working.
7 years from now? I don't want to think about it.
Retirees in far too high a percentage will not be buying "goodies" they will be just fighting for the essentials of life(a tragic picture to visualize).
The demographics of our present situation i feel makes for an ominous scenario 5-7 years hence.gd
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