These are exceptionally trying days for most of us. Rosi and I are doing what we can. For reasons of social distancing, our cleaning lady will not be coming in until further notice. Rosi and I are paying her, regardless.
We are also donating to the Salvation Army food bank.
Our American members can visit the Salvation Army website and follow instructions about how to donate if they wish to do so.
Our Canadian members can call 1-800-725-2769, (1-800-salarmy) to make a credit card donation.
Now, let us look at Warren Buffett’s Berkshire Hathaway’s 10 largest holdings.
From the above table, we can see that Buffett’s portfolio is down less than the present bear market. The reason is that he has more than 120 billion in cash — keeping his powder dry in order to scoop up bargains.
We will know exactly what his moves are around mid-May when he files his quarterly disclosure with the SEC (Securities and Exchange Commission).
In our February 10, 2020 blog titled Cash is trash or cash is king we quote famous investor Ray Dalio as saying that cash is trash and that we should be fully invested. Buffett stated that cash is king. At present market prices, Buffett looks like a hero. Investors who followed Dalio’s advice have lost a third of portfolio values.
On Monday, April 6, we will report on the first quarter performance of the Monday Morning Millionaire Program.
We are proud of it.