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What advice do you give for the average person that's looking to invest their salary or their wages?
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>> Don't own US stocks as a simple strategy that you can act on. >> What about S&P 500?
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>> No. Really? Yeah. And if you have a big position in US technology stock, my personal advice would be to sell them
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all. >> But I'm an investor in SpaceX. >> Good luck. SpaceX is such a fabulous BS
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story and we can go into that. >> Crypto? >> No. >> Why? It's an unnecessary piece of
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nonsense that facilitates nothing except criminals moving money, but they can't be seen.
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>> Do you think Bitcoin is going to go to zero? >> Yes, it will certainly go to zero.
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>> So, how many years have you spent investing? >> 60 years. >> And what's the most amount of money
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you've ever managed of other people's money? >> 165 billion. >> And one of the things you're famous for
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talking about is this idea of bubbles. >> Yes. And bubbles always occur around the
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very most important ideas. So, the railroads, everyone could see that it would change the world. The same with
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the internet. And everyone wanted to put their money in and so they overinvested.
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But this is the problem. Eventually they lost. And if you look at the great bubbles breaking of the past, you find
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that it's followed by really tough times, a miserable period for the economy. And the bigger the bubble, the
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bigger the boss. And now we're in the biggest investment bubble that arguably has ever occurred. AI.
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>> Are we on the verge of a collapse with AI over the coming years? >> The next few days, the next few weeks,
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the next few months, but certainly the next few years. So if you're not someone that has a huge amount of savings, what
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kind of strategy should they be adopting when an economy starts to get bad and there's an economic bubble collapse?
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>> So I will go through everything, but you will not receive this advice from investment advisors because they'll lose
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a lot of business. >> Would you be thinking about the country you live in at this moment in time?
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>> Absolutely. >> Is there any countries you wouldn't live in? >> I think I have to refuse to answer this
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on the grounds that it might tend to incriminate me. >> Oh, okay. So you're saying don't live in
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the United States. I've just moved here. Why not the United States?