Warren Buffett remains unfazed by recent market turbulence, dismissing the downturn as “nothing” while talking about Berkshire Hathaway Inc.‘s (NYSE:BRK) (NYSE:BRK) massive cash pile ready for a true market plunge.
Unmoved By The Market’s Drop
Since the Iran war began in late February, Wall Street has stumbled. The Dow Jones Industrial Average has plunged 5.05%, the S&P 500 dropped 4.31%, and the Nasdaq Composite has fallen 3.48% between Feb. 27 and April 2. Yet, the legendary investor is not rushing to buy the dip.
“Three times since I’ve taken over Berkshire, it’s gone down more than 50%,” Buffett told CNBC’s Becky Quick in his first interview since stepping back as Berkshire Hathaway CEO. Recalling the 2008 financial crisis, he added, “I mean… this is nothing to make you get excited and think there’s huge valuation.”
Waiting For A ‘Big Decline’
Buffett emphasized that a minor market haircut is insufficient to trigger a …
This post was originally published here