It's August 10th 2017 and I am long delta.......

Gotcha said:
Except if you're buying Enron, or Snapchat, or Blue Apron, or.....

Perhaps before Lehman Brothers was liquidated they could have seen if anyone wants to get in at a really good price???

The point I'm making is that I think its very difficult to gauge what is a good buy and what isn't. Buffet made lots of his money in insurance companies. Not only are they hurting with low interest rates, they also say the autonomous cars will required people to have much less insurance. So when insurance companies are cheap, do you buy, will they recover?

Its never so easy except in hindsight.
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No doubt. If it was easy everybody would be a millionaire right? The concept of buying during panics is a general instruction. I doubt it means to cherry pick one hurting company. I think the two most bought stocks during the 2008 panic was Wal-Mart and McDonald's. If you had loaded up on those two at the lows of 2007-08 I suspect you'd be in pretty good shape today no?

My plan was to put everything in Bank of America, Bank of New York Mellon, Goldman, and Well's Fargo back in 2009. I knew that if those banks went broke, America was broke and I would be relying on guns and alcohol for survival. To make a long story short... I didn't have the balls to execute. Had I gone ahead with the trade I would have profited handsomely. I don't know how long I would have been able to hold that trade though once it started paying off. 25%? 50%? 100%? 200%? Probably 25% lol.

BOA was at like 6 bucks in 2009......
 
https://www.fool.com/investing/gene...n-sachs-is-one-of-the-biggest-warren-buf.aspx

Buffet buying when others are afraid.

He bought into a company that if it had gone broke, the rest of his assets wouldn't have mattered much either. I think he's mentioned that more than once. If everything's going to zero, why does it matter that I invest in the strongest financial institution of them all? Fiat currency will be worthless. But if he's right...... BOOM
 
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