While you may know the guy better, notice this Druck comment comes at a time when the long term buy-and-hold thinking is at its weakest point. A slightly respectable guru saying this sort of things is enough to make some people sell.
This is the best comment in all. HN folks don't understand the purpose of this article. You think Druckenmiller is so bearish? for the next 30 yrs? Not a chance. He must have a huge short position on the S&P500, and he likes you to sell your stocks so he could cover at a lower level.
I heard this so many times. These goddamn CEOs are so myopic; all they care is next quarter's earnings. After the fall of every megacap, tech or otherwise (recently GE), someone always blames them for short sightedness. Is that really? Well, many CEOs of many huge corporations just plan for the next quarter, and they seem to be doing just fine.
When a product originates from China, it must be full of spyware. Let's don't even question whether that's true or even reasonable. Then imagine one day, China's scientists invented a new semiconductor, a new material to make chip, or a new technological product that's order of magnitude better than everything out there.
My question: are you going to avoid it like the plague; don't buy anything made of it, which may be in a lot of the things you touch. Btw, that's not very far-fetched, judging from the number of breakthrough research coming out of that country.
The view expressed in this blog and many of the comments on HN is a prime example of survivorship bias[1].
In 1921, you did not know DJI would have done so well over the next 100 yrs.
A very real counter example is the Japanese stock market. The Nikkei peaked at 39,000 in 1989. Thirty yrs later, it's only 28,000. Many blue chip stocks on Tokyo Stock Exch have never recovered their previous high.
Lefevre, E. (2004). Reminiscences of a stock operator (Vol. 175). John Wiley & Sons.
Kramer, C. (2000). " Devil Take the Hindmost: A History of Financial Speculation" by Edward Chancellor (Book Review). Finance and Development, 37(1), 53.
Mackay, C. (2012). Extraordinary popular delusions and the madness of crowds. Simon and Schuster.
WSJ has a link to its digital archive, which only goes back to May 1996. And unfortunately it doesn't have API so getting articles out of site for NLP is a pain. Let me know if you have code for that. I'm working on something similar
I just bought two yubikeys; a month later, I returned both. Here is a (major) problem. On a ubuntu box, I installed `libpam-u2f` and set it up for one user account. Turns out it breaks all other user accounts on this ubuntu box, meaning no other user could log in without the key. I contacted their support. No solution.