Berkshire Letter2009-02-0015 min read
The Financial Crisis - 2008
Written during the depths of the 2008 financial crisis. Buffett's famous "buy American" op-ed from October 2008 is summarized. He explained that economic Armageddon did not occur, and Berkshire emerged from the crisis stronger, having invested heavily while others panicked.
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Key Quotes
“Buy American. I am.”
“In the 20th century, the United States faced two world wars, a flu pandemic, recessions, and depressions. And the Dow went from 66 to 11,497.”
“The financial crisis is not over, but it will pass.”
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