### Comment:
Honestly this is probably the biggest sign that this type of strategy won’t keep working long term much longer. This strategy only worked as well as it did because of the last 10 years of monetary policy and QE which he said was a good reason why he did it. Last year would have been a big hit with all the volatility. Without the feds hardcore intervention this year

### REPLY:
The backtesting data shows it has worked really well over all time. Where it might get killed is rising interest rates (which is a real possibility). Obviously something like Japan = game over but you’d be fairly screwed anyway if America becomes japan

### END.