Alec Hogg: Buffett defends why he missed Covid bargains

Saturday's Berkshire Hathaway AGM came and went without the usual hype, 5am queuing or anyone having to suffer an overpriced Omaha hotel room. This year's event was switched to Los Angeles to accommodate 97-year-old vice chairman Charlie Munger. Courtesy of Covid-19, was a streaming-only affair..Also read: Jackie Cameron: Déjà vu for stock market cycle.Buffett took heat from the normally adoring shareholders. Rightly so. The man who tells us be greedy when others are fearful not only missed the March 2020 market selloff, but went the other way: dumping Berkshire's airline stocks, selling banking shares and lightening his stake in Apple Inc – while buying nothing..Buffett's AGM response: "I don't consider it a great moment in Berkshire's history, but we have more net worth than any company on earth. And I still don't want to own the airline business." Maybe. But the world's greatest investor to not only miss such a great opportunity but sell into it could be raising a flag..___STEADY_PAYWALL___.Also read: Alec Hogg: CR defends rotten ANC Cadre Deployment.I'm reminded of Ken Fisher's introduction to his father Philip Fisher's masterful Common Stocks and Uncommon Profits. Commenting on Dad's mistakes later on, Ken wrote: "I've watched great investors age, and there are no old, great investors. There are old men who were great; but the process of investing is too vital to allow for old age and future greatness together." Buffett is 90..PS We're into 12J's final season and after last week's introductory webinar (click here to watch the recording) we've got a cracker for you on Wednesday at noon when we'll examine the investment appeal of the Lucid 12J Retirement Living Fund. Here's the link to register: https://attendee.gotowebinar.com/register/616277781592035343.For your listening and viewing pleasure…...Latest audio on BizNews Radio… (click on the link to access).Friday's BPH: Kooyman, Ossip, Carly Barnes, My Octopus TeacherHelen Zille talks to Alec Hogg: How to beat the cancerous Woke cultureCoinbase the new Tesla? US markets with Cycles expert Richard SmithFB: Blow to Naspers-owned Tencent; Fresh energy scandalDavid Shapiro – The Tongaat share price plunge and how to fix SA.Latest videos on BizNews TV… (subscribe on YouTube and daily at 5:30pm get to see all the studio action of BizNews Power Hour).Dr Tim Noakes on protecting against Covid-19, reversing diabetesFormer Group 5 CEO Mike Lomas corruption no surprise – Paul O'SullivanFresh corruption scandal over SA energy supply – Matashe named.How to catch the BizNews Power Hour.The BizNews Power Hour is broadcast every evening from 5:30pm SA time. Catch it live worldwide on our new website BiznewsRadio.com or, if you live in the Cape, on Fine Music Radio on FM 101.3 (CT); 107.9 (False Bay); 94.7 (Hout Bay); and 97.1 (Altantic Seaboard).If you miss the live show, all recordings of BizNews Power Hour are available on BiznewsRadio.com or, better still, subscribe and be automaticlaly updated via:.BizNews Radio on Spotify – https://open.spotify.com/show/5FFrCgm9cQpFdpemev4lEIBizNews Radio on Apple Podcasts (iTunes) –https://podcasts.apple.com/za/podcast/biznews-radio/id1441394221

Alec Hogg: Buffett defends why he missed Covid bargains

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