Did you watch the Berkshire Hathaway shareholders meeting?
1) We both Lost Money
Sure I didn’t lose $50 Billion but we have all felt it. Why isn’t Warren panicked? Because he has the one thing everyone needs in moments of uncertainty – cash!
This is a lesson around forming a ‘Corona Cushion‘ and protecting your cash need.
Warren also warned to not BUY any financial products you don’t need.
During these times Financial products are often “sold” not “bought”!
For me it is remaining focused on my personal cash reserves and reviewing any of the services I am paying for but don’t need.
2) We both see the world-changing
For Warren that is the airline industry. Dropping all holding in the major 4 airlines and going so far as to say “we wish them well”.
For me it is public speaking. Having seen the virtual training and group facilitation open up in weeks, I have come to understand that I need to change ‘public’ to “At-Home Zoom” speaker.
Lesson is to not only see what is happening, but also where things are going.
3) We both are betting on US-A
Warren made it very clear that America has been through its ups and downs in 200 years. But he is confident that America today is stronger than ever and that “Nothing can stop America!”
He continues to preach that buying long term equities is the best investment, using the S&P 500 index as a way to diversify and bet on America.
Why Warren Buffett is Warren Buffett is in large part to his ability to stay disciplined and be LONG!
For me, As a new Entrprenuer through this pandemic, I have gone through a rollercoaster of emotions in my world.
A month ago I wrote to myself about looking for jobs as my business was derailed.
Today I look at the crisis in front of me and continue to focus on the opportunity amongst the chaos.
Never before have people needed the mindset of going from Rookie to Veteran and how the best in the world grow through adversity.
Never before have people needed to sit in the drivers seat of Your Money Vehicle and begin to securely drive onto the other side of this.
Let us all think like Warren Buffett:
- Be prepared, in cash
- Be LONG Term
- Be Confident in US-A