Warren Buffett: Clouds Rain Gold
on Friday, December 21, 2018Warren Buffett Money Quote saying stormy economies can offer great opportunity for those who can buy bargains that come during economic storms. Warren Buffett said:
“Every decade or so, dark clouds will fill the economic skies, and they will briefly rain gold. When downpours of that sort occur, it’s imperative that we rush outdoors carrying washtubs, not teaspoons” — Warren Buffett
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Warren Buffett is saying that during economic downturns, that is when the “dark clouds” fill the skies, great investment opportunities arise. These opportunities are brief, like a downpour of rain, so investors need to act quickly and take advantage of them.
By “rushing outdoors carrying washtubs, not teaspoons,” Buffett means that during these periods it’s important to invest aggressively and take on large positions, rather than small cautious ones, as that is when bargains can be found. His metaphor suggests that to benefit during economic storms, one must be prepared to catch the “rain” or opportunities in large vessels (washtubs), not just small amounts (teaspoons).