Investor Warns of AI Bubble and Advises Against US Stocks and Bitcoin

What advice do you give for the average person that's looking to invest their salary or their wages?

Don't own US stocks. That's a simple strategy that you can act on.

But what about S&P 500? No. Really? Yeah.

And if you have a big position in US technology stock, my personal advice would be to sell it all.

But I'm an investor in SpaceX. Good luck.

SpaceX is such a fabulous BS story, and we can go into that.

Crypto? No. Why? It's an unnecessary piece of nonsense that facilitates nothing except criminals moving money, so they can't be seen.

Do you think Bitcoin's gonna go to zero?

Yes, it will certainly go to zero. So how many years have you spent investing? 60 years.

And what's the most amount of money you've ever managed of other people's money?

165 billion. And one of the things you're famous for talking about is this idea of bubbles. Yes.

And bubbles always occur around the very most important ideas.

So the railroads, everyone could see that it would change the world.

The same with the internet, and everyone wanted to put their money in, and so they over-invested.

But this is the problem. Eventually, they bust.

And if you look at the great bubbles breaking of the past, you find that it's followed by really tough times, a miserable period for the economy, and the bigger the bubble, the bigger the bust.

And now we're in the biggest investment bubble that arguably has ever occurred: AI.

Are we on the verge of a collapse with AI over the coming years?

The next few days, the next few weeks, the next few months, but certainly the next few years.

So if you're not someone that has a huge amount of savings, what kind of strategy should they be adopting when an economy starts to get bad and there's an economic bubble collapse?

So I will go through everything, but you will not receive this advice from investment advisors because they'll lose a lot of business.

And would you be thinking about the country you live in at this moment in time? Absolutely.

Is there any countries you wouldn't live in? I think I have to refuse to answer this on the grounds that it might tend to incriminate me. Oh, okay.

So you're saying don't live in the United States?

I've just moved here. Why not the United States?