Marc Faber on why younger Americans are poorer than previous generations

There is a reason for younger Americans to be in worse financial straits than the generations that preceded them. Aside from large borrowings (student debts are up from less than $50 billion in 1999 to more than $1.5 trillion in 2019), the millennials are also poor investors. Just like other individual investors they lack the discipline to implement a consistent investment strategy, and most importantly, patience. In addition, they trade far too frequently and chase the most popular stocks.

~ Marc Faber, Market Commentary, December 1, 2019