“If you stick around long enough, you’ll see everything in markets,” said Warren Buffett earlier this month in an interview with Yahoo Finance. This according to a recent article in MarketWatch.
And conditions have only gotten worse since then, the article reports, noting that the stock market “continues to spin out of control in both directions.”
Although Buffett’s Berkshire Hathaway is sitting on a pile of cash that “has him prepared to pick up the pieces once this all blows over,” the article notes that his portfolio has suffered a blow, as evidenced by data from Bespoke Investment Group:
According to Bespoke, the average stock in Buffett’s top holdings is off 37%. The firm said in a recent note, “While Buffett is well known for weathering the worst market downturns and coming out stronger, the last several weeks have been just as painful on his portfolio as it has on the broader market.”