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Non-Tech : Kirk's Market Thoughts -- Ignore unavailable to you. Want to Upgrade?

To: Sun Tzu who wrote (9654)	5/4/2020 2:15:27 PM
From: Sun Tzu	2 Recommendations Recommended By Kirk © rdkflorida2 Respond to of 26474

“We’re doing things that we really don’t know the ultimate outcome to,” the 89-year-old investing legend said at the virtual meeting. “I think in general they’re the right thing, but I don’t think they’re without consequences, and I think they could be of extreme consequences if pushed far enough. But there would be kind of extreme consequences if we didn’t do it as well.” That is why Buffett is sitting it out. He doesn't see the market within his circle of competence - which is really saying something.

To: Sun Tzu who wrote (9654)	5/4/2020 2:15:31 PM
From: Kirk ©	Respond to of 26474

Thanks for that summary! One interesting comment was re the mega tech corps like Apple. He didn't think that they were overvalued as they ran up. He said that when you look at them in terms of return on capital and growth rate, they were good companies that were worth the money. He said that it is not impossible for him to invest in Amazon or Google, but he refused to say if/when he will. I got the impression that they are not trading at a deep enough discount for him to invest in them. Though he clearly ponders about where that value is. You have to pay or get a free trial to see what he has now, but back on December 31, 2019 he had a 29.7% in Apple 0.41% position in Amazon 0% in Google/Alphabet 3% in Delta and SouthWest airlines... A LOT in banks 1.3% in GM gurufocus.com So being down 20% when the S&P 500 was down much less is not a surprise, even with 30% in cash.