Emily Flippen

Should be a really interesting episode.

That's the understatement of a century, John.

I mean, you know, one of my favorite movies is this movie called Everything, Everywhere, All at Once.

And I think that basically sums up what investors are afraid of.

Everything, everywhere, all at once.

I mean, headlines, to your point, are driving the narrative.

And that means we're waking up every day with new news of tariffs, shutdowns, the concerns of the divide between the middle class and the K-shaped recovery, layoffs.

And then I think what most of our listeners and every investor is probably afraid of, like, what's going on with my retirement funds as a result of all of this?

But the

The fact that this has measured fear or extreme fear for nearly a month now is absolutely crazy when you look at and you compare to the actual market performance itself.

Because if you had blindly entered this story, John, I'd say, well, the market is in greed mode.

That's certainly how it's acting.

And that just goes to show that there is a divide between how people are feeling and what they're actually experiencing.

But in my opinion, there's always a reason to be afraid.

There's never going to be a realistic world we live in where an investor sits down and says, there is nothing to be afraid of, whether that's terrible economic situations or if that's literally just the fear of missing out because the market is so hot.

But in my opinion, the fear is what drives the narrative.

And when that happens, that presents opportunities for diligent long-term investors.

Well, it really makes you wonder about what that transition plan looks like at Berkshire Hathaway and if the cash isn't part of that decision.

And to be honest, I think if you're an average person, of which I imagine everybody listening to this podcast, unless you're Warren Buffett, is an average person, probably shouldn't be looking to Berkshire Hathaway for portfolio management advice.

The amount of cash that Berkshire Hathaway has sitting isn't really an investment.