The 2020 Berkshire Shareholders Meeting is always a gold mine of investing insights. Here are my key takeaways from this years meeting:
1) Coronavirus is an interruption in growth
2) Capitalism works, stay confident in it. Don’t depend on the kindness of strangers or friends in time of financial need. Don’t bet against America. America’s tail wind is not exhausted.
3) Most money managers in finance make their money by being great sales people rather through their performance
4) No one, not even a billionaire knows what the market will do in the short-run, so tune them out as noise just like everything else
5) With bonds you are effectively losing money versus
6) Problems occurs with leverage or psychology.
7) Praised Powel and Fed’s fast reaction