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

ME News Report, May 3rd (UTC+8), Warren 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 — for fields that young people have grown up with alongside new technologies, he no longer expects to have an advantage. Despite this, 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 everyone else is not answering their phones. In his 60-year career, the truly “profitable” years may only be five. 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 reach them, and they won’t answer at all. Even if they do, the quotes and asking prices will come with various conditions, and the bid-ask spreads are huge. (Source: ChainCatcher)