{"id":3172,"date":"2020-05-02T10:14:56","date_gmt":"2020-05-02T10:14:56","guid":{"rendered":"https:\/\/www.maxlee.info\/blog\/?p=3172"},"modified":"2020-05-24T10:18:00","modified_gmt":"2020-05-24T10:18:00","slug":"warren-buffett-on-the-one-two-punch-market-panic-it-took-me-89-years-to-experience-something-like-this","status":"publish","type":"post","link":"https:\/\/www.maxlee.info\/blog\/news\/warren-buffett-on-the-one-two-punch-market-panic-it-took-me-89-years-to-experience-something-like-this\/","title":{"rendered":"Warren Buffett on the \u2018one-two punch\u2019 market panic: It took me 89 years to experience something like this"},"content":{"rendered":"

\u2018It wasn\u2019t October 1987, but it was an imitation… [and the financial crisis] was much more scary, by far, than anything that happened [on Monday].\u2019<\/em><\/p>\n

<\/p>\n

\"Warren
Warren Buffett shares his thoughts on coronavirus fears.<\/figcaption><\/figure>\n

Published: May 2, 2020 at 12:51 p.m. ET, By Shawn Langlois<\/p>\n

That\u2019s Berkshire Hathaway (BRK.A, BRK.B) boss Warren Buffett putting the market volatility \u2014 which he described as a \u201cone-two punch\u201d of coronavirus and falling oil prices \u2014 in perspective in an interview recently on Yahoo Finance<\/a>.<\/p>\n

\u201cIf you stick around long enough, you\u2019ll see everything in markets,\u201d he said from his Omaha headquarters. \u201cAnd it may have taken me to 89 years of age to throw this one into the experience, but the markets, if you have to be open second by second, they react to news in a big time way.\u201d<\/p>\n

While it may have been scarier in 1987 and 2008, at least to Buffett, there\u2019s no denying that it\u2019s been a brutal stretch for investors. Last week, however the Dow Jones Industrial Average DJIA just turned in one of its best performances ever, rallying almost 13%.<\/p>\n

Stocks, of course, still have a ways to go to recover from last month\u2019s historic reversal.<\/p>\n

The so-called Oracle of Omaha appears to be well-positioned to weather more market turbulence. At last count, Berkshire Hathaway was holding $128 billion in cash.<\/p>\n

\u201cBuffett did not amass his fortune by following the herd but by leading it,\u201d RIA Advisors strategist Lance Roberts recently wrote in a blog post<\/a>. \u201cHe is sitting on a $128 billion in cash for a reason. Buffett is fully aware of the gains he has forgone, yet still continues his ways. Buffet is not dumb!\u201d<\/p>\n

Watch this clip from Yahoo\u2019s Buffett interview:<\/p>\n