"Future returns will be lower" - Howard Marks, Warren Buffett, Charlie Munger

Down to earth, honest advice from Buffett, Munger and Marks on why they're pessimistic about future stock market returns. If you're investing in your 20s, you must listen to this and adjust your expectations. 1999 Clip from Berkshire Hathaway shareholders meeting: Warren Buffett & Charlie Munger Original video: https://buffett.cnbc.com/video/1999/05/03/morning-session---1999-berkshire-hathaway-annual-meeting.html Warren Buffett was asked whether there are any better ways to invest than a four percent interest on a non-taxable mutual fund in the early 80s of the lifehood? 2016 Clip from Howard Marks Bloomberg interview Original video: https://www.youtube.com/watch?v=Fm0tcmhWdkw&t=1051s Famed investor Howard Marks shares his insights on the value of remaining calm in troubled times. In this episode, you’ll learn: - Why stock can't keep growing at the same rate? - Why the average American used to have a better life? - What range of returns to expect from the future?