Berkshire Letter1988-03-0012 min read
The Crash - 1987
Written after the October 1987 crash (22% in one day). Buffett explained that crashes are inevitable, unpredictable, and irrelevant to long-term investors. He made no major moves during the crash, having cash available but not deployed.
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Key Quotes
“The October 19, 1987 crash was significant but does not change my long-term outlook.”
“I made no moves during the crash - I simply continued to hold what I already owned.”
“A market crash does not make me less interested in owning businesses.”
[[PLACEHOLDER]]