"Buffett partner Munger calls coronavirus recession ‘the worst typhoon that’s ever happened,’ says CEOs too ‘frozen’ to ask for a bailout" (BRK)

"I didn't set out in life to become the assistant leader of a cult."
—Mr. Munger at the 2007 Wesco annual meeting as recorded
by T2 Partners' Whitney Tilson

From MarketWatch
Berkshire Hathaway isn’t going bargain hunting like it did during the financial crisis 

“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. We’re not playing ‘oh goody, goody, everything’s going to hell, let’s plunge 100% of the reserves [into buying businesses]”

  — Charlie Munger, vice chairman of Berkshire Hathaway

So says Charlie Munger, Warren Buffett’s business partner and vice Chairman of Berkshire Hathaway, in a Friday interview with the Wall Street Journal.

Not only are these investment legends playing it safe amid the economic uncertainty wrought by the ongoing coronavirus epidemic, corporate executives have not been eager to ask for their help, either....MORE

See also "Berkshire Hathaway as Idealized Private Equity", above.