Why he's not buying stocks in size: sensitivity to tail events and the '08 reminder "we don't see all the problems the first day."
On whether others should buy now: Only if you expect to hold for a long time and are financially and psychologically ready to do so
"We haven't seen anything attractive," especially after the #Fed quickly opened the #markets for companies to borrow
- "You can't rule out any possibility" and
- #BerkshireHathaway wants to be prepared for many possible scenerios.
#markets #economy #COVID19
- Some of the losses in sales are permanent (e.g. See's Candy Easter inventory)
- Some already-weak businesses are not coming back
- Some other businesses are hurt by changes in behavior that will stick
-Not all of the job losses will be recouped