Tren Griffin+ Your Authors @trengriffin I work for Microsoft. Previously I was a partner at Eagle River, a private equity firm established by Craig McCaw. I am on the board of directors of Kymeta. May. 03, 2020 1 min read + Your Authors

1/ Great teachers tell great stories. Buffett yesterday at the BRK meeting was an example of great teaching. After he said:

"There are times when money almost stops. And we had one of those, interestingly enough. We had it, of course, in 2008 and ’09."

Buffett said this:

2/ Buffett went on to explain a complex topic in an understandable way with a story. Be sure to click on the picture to read the entire story. This was a pivotal moment in history and the Fed had to act immediately.. Buffett said Powell belongs in the Fed hall of fame.

3/ This is what a you say if you love your country:

"This is a very good time to borrow money, which means it may not be such a great time to lend money, but it’s good for the country that it’s a good time to borrow money. This is not good for Berkshire particularly." Buffett

4/ "There was a period right before the Fed acted, we were starting to get calls. They weren’t attractive calls. After the Fed acted, a number of them were able to get money in the public market frankly at terms we wouldn’t have given.” Warren Buffett 

5/ "We haven't done anything because we don’t see anything attractive to do. [The deals in 2008 and 2009 weren’t done to make] a statement to the world. They seemed intelligent things to do and markets were such that we didn’t really have much competition.”

Now isn't like then.

You can follow @trengriffin.


Tip: mention @threader_app on a Twitter thread with the keyword “compile” to get a link to it.

Enjoy Threader? Sign up.

Since you’re here...

... we’re asking visitors like you to make a contribution to support this independent project. In these uncertain times, access to information is vital. Threader gets 1,000,000+ visits a month and our iOS Twitter client was featured as an App of the Day by Apple. Your financial support will help two developers to keep working on this app. Everyone’s contribution, big or small, is so valuable. Support Threader by becoming premium or by donating on PayPal. Thank you.