Warren Buffett: The current investment environment is not ideal; the real buying opportunity is when "nobody is answering the phone."

ChainCatcher News, according to Glonghui reports, Buffett candidly stated in an interview that the current investment environment is not ideal, and the high market prices are one of the main reasons he remains on the sidelines. He also admitted that as he ages, the proportion of industries he can deeply understand has decreased compared to ten years ago—he no longer expects to have an advantage in fields where young people have grown up alongside new technologies.

Nevertheless, he emphasized that Berkshire Hathaway has the ability to make quick decisions and can undertake transactions of any scale, just waiting for the right opportunity.

Buffett said the most likely time to buy is when no one else is answering the phone. In his 60-year career, there may have only been five years truly "profitable." He recalled the real Wall Street ecosystem during market crashes: everyone was bragging about their excellent trading departments. But when the market crashes, try to find them, and they won’t answer the phone at all. Even if they do, the quotes and asking prices will include various conditions, with huge bid-ask spreads.