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Warren Buffett and Charlie Munger were 'sidelined in fear' during the coronavirus crash, investor Bill Smead says

21 days ago   |   By Business Insider

Warren Buffett and Charlie Munger were too terrified during the coronavirus crash to make any big moves, Berkshire Hathaway investor Bill Smead said in his second-quarter shareholder letter .
"It is unlikely they have been more scared by economic circumstances in my lifetime than they were in March through May," Smead Capital Management's portfolio manager said.
Buffett's efforts to give positive advice "only stretched to mindlessly investing into the S&P 500 index," he added.
Smead and his team reacted to the outbreak by targeting hard-hit stocks such as Chevron and Simon Properties, and...
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