Author Topic: Buffett AGM Comments  (Read 13237 times)

Peter_Falk

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Re: Buffett AGM Comments
« Reply #70 on: May 15, 2020, 12:54:52 PM »
He told Becky that he spoke to his science advisor Bill Gates that he is bullish on a vaccine over the long term. He talked about buying stocks in the quarter.

It was a radical change based on the same pandemic that he was aware of and had spoken to Gates over a roughly 6 week time frame.

When the facts change, you change your mind, sir.

The world is filled with hope on thin air.

Vaccine news is either cheerleading by the administration, pharma co‘s pitching their businesses to shareholders, or pharma team‘s soliciting budget.

Buffett said it - a crisis doesn‘t fold out over a couple of weeks.

The wheel started turning, and there will be second and third order effects (and so on). Whoever talks about an „artificial“ recession (because it was caused my a „planned“ shutdown) is also the one who values businesses on the basis of „earnings as if Corona never happened“

Liquidity doesn‘t fix valuations... We just need to be patient...
« Last Edit: May 15, 2020, 12:57:36 PM by Peter_Falk »


DooDiligence

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Re: Buffett AGM Comments
« Reply #71 on: May 15, 2020, 03:22:31 PM »
He told Becky that he spoke to his science advisor Bill Gates that he is bullish on a vaccine over the long term. He talked about buying stocks in the quarter.

It was a radical change based on the same pandemic that he was aware of and had spoken to Gates over a roughly 6 week time frame.

When the facts change, you change your mind, sir.

The world is filled with hope on thin air.

Vaccine news is either cheerleading by the administration, pharma co‘s pitching their businesses to shareholders, or pharma team‘s soliciting budget.

Buffett said it - a crisis doesn‘t fold out over a couple of weeks.

The wheel started turning, and there will be second and third order effects (and so on). Whoever talks about an „artificial“ recession (because it was caused my a „planned“ shutdown) is also the one who values businesses on the basis of „earnings as if Corona never happened“

Liquidity doesn‘t fix valuations... We just need to be patient...

Ira Flatow's Science Friday was exceptionally good today.

www.sciencefriday.com/person/ira-flatow/

They spent quite a bit of time debunking nonsense & discussing what we know, and more importantly, what we don't know about COVID.
AFL // BRK.B // CLB an incredibly stupid move // DIS // EW // GPC // MO an incredibly stupid ex-CEO // NVO // PSX // ULTA // VDE // VLGEA // WFC

Investable cash 16% + 18 months of survival $

wescobrk

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Re: Buffett AGM Comments
« Reply #72 on: May 15, 2020, 03:52:42 PM »
He sold all of the airlines now he is selling Goldman and JP Morgan.

Spekulatius

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Re: Buffett AGM Comments
« Reply #73 on: May 15, 2020, 04:22:21 PM »
Life is too short for cheap beer and wine.

wescobrk

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Re: Buffett AGM Comments
« Reply #74 on: May 15, 2020, 04:33:02 PM »
Buffett raising all of this capital has nothing to do with insurance claims. The CEO of Lloyds of London thinks there will be about $100 billion of claims for the virus and maybe another $100 billion if you take into account insurance companies having to sell assets at low prices. If we take the high end of his prediction, in the past, Buffett has said Berkshire will have no further damage than 3% of the industry. Let's double that on the high end prediction of $200 billion which is 6% of $200 billion is $12 billion. Buffett further says he wants to have $20 billion at all times. $137 billion minus 32 billion equals $105 billion of dry powder AND he is continuing to sell stocks such as Goldman, JP, BK.
His comments about having to pay claims for people and others that have 99% of their net worth in Berkshire strikes me as complete bullshit. I love Buffett but as someone as said on this board watch his actions and not his comments. Buffett is speculating there will be a monster drop in equites . He wasn't buying at 35% drop. He thinks we will drop 50% plus. That is what I'm getting from his actions and ignoring his comments.

scorpioncapital

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Re: Buffett AGM Comments
« Reply #75 on: May 15, 2020, 05:09:53 PM »
I don't see this conclusion at all. He is selling airlines and banks. both businesses are impaired in this environment of low rates and travel.

deadspace

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Re: Buffett AGM Comments
« Reply #76 on: May 15, 2020, 07:58:32 PM »
I don't see this conclusion at all. He is selling airlines and banks. both businesses are impaired in this environment of low rates and travel.

Agree.  Since when does Buffett time markets and jump in and out of stocks.  Even if he knew there was a market drop coming he wouldn’t sell all his stocks.  This are industry specific calls and speak to specific impairments in banking and airlines not a comment on the probability of a market drop

UK

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Re: Buffett AGM Comments
« Reply #77 on: May 15, 2020, 08:59:39 PM »
So ... I’ve been buying American stocks. This is my personal account I’m talking about, in which I previously owned nothing but United States government bonds.

https://www.nytimes.com/2008/10/17/opinion/17buffett.html