Johnnyola1 wrote: FIRST
WHY is Buffett shooting his mouith off about something he knows nothing about?
Warren Buffett warns coronavirus will affect business, but he 'certainly won’t be selling' stocks Chairman Mao, aka Warren Buffet pleads with people not to sell. He of course, has bought almost nothing the last year, because he has said they are wildly overrated. He is a con artist and hustler. He is sitting on 130 billion in cash, and is not BUYIING.........But he is afraid everybody will sell these bloated overpirced stocks.........wildly bloated. A PE OF 22, and it should be about 16...that ia 25% haircut.....and even a PE is very rich.....if we go into a recession, the PEs go below 10, in fact in a bad recession they go below 8.. Which means the S and P goes down by 70% which is in keeping with the last 2 severe recessions, in 2002 and 2008...THINK ABOUT IT.
SECOND:
here is the second reason, the trigger reason if you will:
great and possibly only true site on the virus, which has implications for biotech investors and all investors.
It is far far worse than 98% of people can imagine or are being told.
For instance, in Italy they have a single confirmed case of a guest in a hotel. They have locked the 1000 hotel guests down and actually surrounded it with police. Nobody in, nobody out.
WHO is revealed to be a fraud in this virus, completely hiding the truth, which is what they are paid to do in times of real crisis. Like in a sci fi film where the government flunkies are always lying to the people when the alien virus takes over the world. See The Andromeda Strain, a great book and later movie 1969 by the author of Jurassic Park, former Harvard doctor when Harvard was a genuine place of learning, Michael Crichton.
think of shipping, cruise lines, airport industry, hotel industry, ...inner offices, wherever people congregate....This is completely different than the other virus epidemics, not remotely comparable.
fatality rate is far far higher so far than 3%, and Dr Campell is modeling serious cases (i.e. in need of hospitalization) in the 17 to 18% of total infected. Global health care facilities can handle a fraction of a fraction of 1% The fatality rate is modeled to be around 2.3% over time, so far. A Harvard Professor (not that harvard deserves any credibility) has said the pandemic *(stock market and chinese do not use this term) will eventually infect between 40 and 70% of people on Earth. A bold statement, and she will go down either as a crackpot or a genius when this is all ended, whenever that is. Epidemics are her field of study, a epidiologist.
Dr. Campbells blog.
https://www.youtube.com/watch?v=IL7oGRKETZM