Even the best of the best are dead wrong sometimes
Jamie Dimon and Warren Buffett can't get it right
15 months ago Jamie Dimon and Warren Buffett were warning people not to buy bonds. At the time, US 10-year yields were at 3.0%. Today they're at 1.48%. 30-year yields are now below 2%.
Here's a look at 30-year futures since:
They're up 16% while the S&P 500 and Berkshire Hathaway shares are both flat.
He wasn't alone. On the same weekend last year, JPMorgan CEO Jamie Dimon was warning about the 10-year rising to 4%.
The point here isn't to point out incorrect calls. I've had plenty myself.
It's a reminder that no one knows the future. Jamie Dimon is going to continue to be the greatest bank CEO of his era while Buffett will remain the greatest investor of all time.
Sometimes you're wrong. Roll with the punches.