Great investors such as Warren Buffett, Carl Icahn, Ray Dalio, and Michael Burry have been failing to beat the market $SPX500 in recent years. What's not working?
Let's start by looking at Carl Icahn, even if we ignore the short thesis of Hindenburg Research on Icahn Enterprises $IEP , the company has failed to beat the market. It is mainly because Carl Icahn had a massive short position on the market.
Ray Dalio has been expecting the US and the US Dollar to use its dominance with respect to China. Investing in China has not been such a good idea recently with regulators going after many of the big companies such as Alibaba $BABA .
As for Michael Burry, he was also shorting the market.
The common mistake made by these investors was to bet against America, something that according to Warren Buffett $BRK.B doesn't work.