No. of Recommendations: 11
“If we are to hit the bull's-eye, we will need markets that
allow the purchase of businesses and securities on sensible terms.
Right now, markets are difficult, but they can - and will - change
in unexpected ways and at unexpected times. In the meantime, we'll try to resist the temptation to do something marginal simply
because we are long on cash. There's no use running if you're on
the wrong road.”
--W. Buffett (1993 Annual Letter)
Warren seems to be “saying” the same thing now with his recent behavior. Funny, cash equivalents were chump change then vs. now!
