I wrote a summary of Berkshire Hathaway’s AGM previously here, and one thing that really stood out of the AGM (other than the empty atmosphere) would be Buffett sharing on the Great Depression and his less than optimistic view of the COVID-19 Pandemic.

“…because if somebody had given me $1,000 on the day I was born, and I’d bought stocks with it, and bought the Dow Average, my $1,000 would have become $170 in less than two years, and that is something that none of us here have ever experienced that we may have had it with one stock occasionally, but in terms of having a broad range of America mark down 83% in two years, and mark down 89% of the peak, that was in September 3rd, 1929, was extraordinary…”

After that AGM, many value investors and investors alike may have started worrying that the Oracle of Omaha is predicting a decline in the financial markets