American billionaire Warren Buffett, known as the ‘Oracle of Omaha’, is sure that there will be a new pandemic in the future that may be worse than COVID-19, because of the lessons this experience has taught us, Despite that people will not even ready to face it.
This week, during CNBC’s “Buffett and Munger: A Wealth of Wisdom” show, CEO of Berkshire Hathaway predicted that “there will be another epidemic.”
“We know there is a nuclear, chemical, biological and now cyber threat. They each have serious potential,” Buffett said. “It doesn’t seem like this is something that society is fully prepared to deal with,” he said.
The businessman who is ninth in Forbes Billionaire Rankings revealed that the main lesson the coronavirus has taught them is that the world is unprepared to deal with emergency situations.
“I’ve learned that people don’t know as much as they think they know. But what’s learned the most is that the pandemic can be seen to be coming, and it’s not the worst that can be imagined. , ”said the 90-year-old magnate. “Society has a hard time preparing for remote situations, which are possible and will happen sooner or later.”
Warren Buffett’s Economic Concerns
At the same event, the businessman confirmed that the economic consequences of COVID-19 are falling disproportionately on small businesses, as the impact has been extremely uneven. “Many hundreds of thousands or even millions of small businesses have suffered greatly,” he said.
The billionaire said the pandemic is “not over”, but that most companies are doing well. In particular, he referred to automotive companies, for which, in his opinion, the virus was “a resounding success that he had not anticipated”, recalling that the sector had been forced to reopen and supply shortages. Record profits have been recorded. lack of chip
“The (pandemic) has been very unpredictable, but it has worked out better than expected for most people and most companies. And simply, through no fault of their own, it has destroyed all kinds of people and their hopes,” he said.
The iconic investor admitted that he did not even have moments of financial uncertainty as he did not know what was going to happen to his airlines BNSF Railway and NetJets. However, amidst all the chaos, he focused on supporting other companies so that he would not have to resort to government aid to survive. “We remind him that he had a rich brother,” said the millionaire.
