"We are huge fans of Warren Buffett and Charlie Munger, but 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.
Scherrer argued the Berkshire chief was effectively endorsing big tech companies as their shares are the most heavily weighted in the S&P 500, undermining his past warnings about "gruesome" companies that grow quickly but require lots of capital to keep expanding and generate little or no profit. Against that backdrop, Smead and his team focused on "opportunities in hell" — stocks with smaller market caps that traded at bargain prices but operated in highly challenged industries.
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He could always help others.
More like. Too respectful to feed likr the other fat sharks oldschool
is neutral
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