The Berkshire chief hasn't struck the same deals this time around because the big banks are better financed and governments have moved quickly to bail out struggling businesses, Ashworth-Lord said.Buffett might not be playing the white knight, but the billionaire investor's teachings are still useful for navigating the current environment, Ashworth-Lord said.
"The most important lesson is to switch off markets and concentrate all your effort on assessing what a business is really worth and what you are being asked to pay for it," he said, referring to Buffett's view that investors buy parts of companies and shouldn't be distracted by stock-price movements.
When others panic and sell, shrewd investors can buy a piece of a quality business on the cheap. Buffett famously summed that up by advising to "be greedy when others are fearful." "Bear markets eventually pass and it is in times of panic that the best pricing opportunities arise," Ashworth-Lord said. He also warned against trying to time markets, instead recommending a "steady drip of investment in at regular intervals.""Given the amount of cash that Berkshire is sitting on and where prices are today, I would have thought that buybacks come into the frame," he said.worth of Berkshire stock in recent weeks.
"Buffett has repeatedly said that he doesn't see bargain basement prices on offer yet," Ashworth-Lord said.Disclosure: TD Ameritrade is a partner of Insider, Inc.'s business development team, which is separate from its editorial department. We may receive a commission if you open an account.Something is loading.
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