I know what you’re saying, but if a company is valued at 10 billion for instance, then gets revalued down to 100mil, that difference has not gone anywhere, it has simply ceased to exist. And if you had invested 100k to own 0.001% of the 10 billion company, you now only own 0.001% of a 100 million company. Your investment has lost its value, with whatever implications that has for you. The value hasn’t shifted around, it’s ceased to exist!

It doesn’t work like this though. If your pension fund is heavy into a company that suddenly loses 90% of its value, your pension suddenly becomes worth a lot less…

That’s what I thought, so that’s what I did! Way less water than filling the sink. Way less. I will add though that I have a pretty big sink.

I used to wash by filling the sink till I met my wife - she always wet each item, scrubbed with soapy scrubber, and then rinsed. It’s a far better method!

This is a long term investment, predicting that the bubble will burst _at some point _. It doesn’t signify that he believes the collapse to be imminent. The market can remain irrational longer than you can remain solvent!