The effects of the coronavirus pandemic have finally landed at the doorstep of Warren Buffett’s Berkshire Hathaway. The multinational conglomerate plans to close some smaller businesses and is positioning itself conservatively as it deals with the outbreak, according to Berkshire’s vice chairman Charlie Munger.
“We’re like the captain of a ship when the worst typhoon that’s ever happened comes,” Munger said in an interview with The Wall Street Journal, adding, “Warren wants to keep Berkshire safe for people who have 90% of their net worth invested in it. That doesn’t mean we couldn’t do something pretty aggressive or seize some opportunity. But basically we will be fairly conservative. And we’ll emerge on the other side very strong.”
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