from Birch Gold Group:
When the vice chairman of one of the world’s largest investment firms and one of the most well-known names on Wall Street both “throw up their hands” in a time of economic crisis, it’s a good idea to pay close attention.
We’re referring to Charlie Munger and Warren Buffett of Berkshire Hathaway, both of whom seem baffled by the current state of affairs. Says Munger:
I would say basically we’re like the captain of a ship when the worst typhoon that’s ever happened comes… We just want to get through the typhoon, and we’d rather come out of it with a whole lot of liquidity.