If we look back at history, we can confirm that there have been 10 years of upward fluctuations in global stock prices.
1950s: German stock boom
1960s: US stock boom
1970s: Gold boom
1980s: Japanese stock boom
1990s: US dot com stock boom
2000s: BRICs boom
2010s: GAFAM boom
It has been repeated over and over again that a boom is born and then disappeared in a 10-year cycle in the global stock market. This may be because if one theme continues to be bought for 10 years, new buyers will not appear, and institutional investors will begin to relinquish their holdings thinking that no further returns can be expected.
There is also a possibility that people think of 10 years as a break in an era and unknowingly change their investment strategies.
In any case, if we look back on history, there is no such thing as a boom that lasts forever, so I don't think anyone will look at US high-tech stocks, starting with GAFAM, in the future.

Warren Buffett revealed that the holding ratio of shares of all five major trading companies, ITOCHU Corporation, Marubeni Corporation, Mitsui & Co., and Sumitomo Corporation, was raised to 7.4%.
＜Market capitalization＞ The amount in parentheses is 7.4%
ITOCHU Corporation: 6.73 trillion yen (498 billion yen)
Marubeni: 3.14 trillion yen (232.4 billion yen)
Mitsubishi Corporation: 7.08 trillion yen (523.9 billion yen)
Mitsui & Co.: 6.27 trillion yen (464 billion yen)
Sumitomo Corporation: 2.98 trillion yen (22.5 billion yen)
The total amount of shares of the five major trading companies held by Buffett is about 1.94 trillion yen (about 14.59 billion dollars), making it the sixth largest after about 2.98 trillion yen (about 22.4 billion dollars) of American Express (AXP).
With this, Japanese stocks have become the largest investment destination other than US stocks, but they are small when viewed from the Berkshire Hathaway portfolio as a whole (including listed stocks and unlisted stocks).

Among the ways to make money, there are businesses like cash flow machines that put money in one's wallet, and they call it unearned income, but I'm not really interested in that kind of way to earn money.
For example, in an influencer business like mine, if you want to do it, you can pay someone to write an article or script, and then you can make money by creating notes and YouTube with it. But what I want to do the most isn't just to make money; it's about writing my own sentences, creating content, and making presentations, and making money with it, so having someone do it for me feels like I can pick up a game I'm crazy about playing.
That's why I don't want anyone else to write articles on my behalf, and I want to keep writing whatever I've come up with in the future.

1: Don't judge by emotion, judge by reason
2: You don't know what's going to happen, so disperse
3: Be patient and wait for the right time
4: No one can predict the future with certainty
5: Don't mistake yourself for being a genius in a bull market
6: It's important to stick to your strategy, but it's just as important to change your strategy according to the situation
7: The biggest mistake investors make is believing that what happened recently will continue in the future
8: Don't just focus on making money
9: If you don't fail, you won't be able to push your limits. If you haven't pushed your limits, you won't be able to maximize your potential
10: A strong market is not an attractive market. It's an expensive market.
11: You don't need a high IQ to invest. You must have a temperament to control your impulses
12: Cash is trash

“Riding the boom” is important for both investment and work. That's because a large part of your performance is determined by where you work.
I think even the best investors could only improve their dull performance if they invested in emerging market stocks in the 2010s. Also, Kathy Wood's performance last year was grotestically terrible.
If you get out of the boom, no matter how hard you try there, you won't get any results.
As long as you turn around and get on with the boom, you can expect results that exceed your ability. The influencer business was a business where results beyond one's ability could be expected.
However, considering that there is no such thing as a boom that lasts forever, I think the influencer business will one day become an unprofitable occupation.
Also, I think that US stocks, which boomed in the 2010s, will now enter a phase of stagnation.
However, a new boom is bound to come, so all you have to do is gather your courage and get on with the new boom. (Of course it might go wrong, though.)
There will probably be a boom in emerging countries and gold in the 2020s, so isn't it OK for the ratio of US stocks to be around 60%? I've been thinking about that lately.

If you pay for Twitter and don't buy blue, your impressions are 1/5,
The level of civility is dramatically low, so I'm thinking about moving to moomoo.
Is there anyone who thinks the same?