The legendary investor Warren Buffett who runs Berkshire Hathaway firm addressed all the shareholders through a video conference for the first time. Berkshire Hathaway Shareholder meeting is famous for Buffett sharing his insight on investing, and other things. Warren Buffett started this meeting by saying that America will fully bounce back when the pandemic situation comes to an end, and the economy will be in a better condition than ever before. He addressed every shareholder because the coronavirus situation hurt the stock market, and overall investors approach on investing; however, he thinks it’s just a temporary situation. More than one million people have been diagnosed with coronavirus.

Millions of people have filed for unemployment benefits, and that’s creating a significant burden on the government. In the first quarter of 2020, Warren Buffett Berkshire Hathaway company lost more than 50 Billion Dollars. The current situation is similar to the 2007 financial crisis because of the money everyone lost, and investors are feeling quite bearish about the whole stock market. Buffett still has billions of Cash Reserves which he is trying to save for upcoming opportunities. Warren said airline business is getting changed because of the lockdown situation and thinks it should be a positive change.

He also talked about whether Americans have changed their habit during this situation or not, and how it is going to impact future businesses. The report shows that Buffett who invested in airlines stocks went down by more than 70% during the first quarter of 2020, and that’s creating a problem for buy and hold investors like Warren Buffett. Warren thinks that it’s better to be invested in the S&P 500 index than any other securities because if the investor believes in America’s secure future, then they will get the benefit of this investment. So far Warren Buffett seemed to be quite positive about the economy in upcoming months which could be a good sign for general investors.