Warren Buffett almost single-handedly put a stop to the last financial crisis in 2008. He penned a now legendary “Buy American. I am.” op-ed in The New York Times. That was incredibly significant. It gave investors the confidence needed to get back on the horse. If getting back in the market is good enough for Warren, it’s good enough for me!
Yesterday he may have done just the opposite.
At the Berkshire Hathaway annual meeting, Buffett informed, well, the world that he completely liquidated his significant airline holdings.
Too much uncertainty.
Translation: I’m selling because I think things will go down.
As significant as selling, he’s not buying, either:
“We have not done anything, because we don’t see anything that attractive to do.
Translation: Yeah, I definitely think things will be cheaper in the future.
So I’m wondering what we’ll wake up to in the weeks ahead? If Warren’s getting out, should I?!
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