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  https://www.bloomberg.com/news/articles/2020-05-03/buffett-s-chance-for-a-blockbuster-deal-faded-as-fed-stepped-in?srnd=premium 

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.



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