Warren Buffett told investors that while the U.S. is dealing with an economic shut down that is in some ways unprecedented, the country will prevail.
It may take years to fully understand all of the ramifications of the near-shuttering of the U.S. economy, actions that have ledover a six-week period, and the nation's gross domestic product to contract 4.8% between January and March.
But Buffett says if you hold tight and own a range of stocks, preferably in the S&P 500, you'll do fine. "The companies we bought were well managed,'' he said. But given the dramatic slow down in travel as a result of the coronavirus pandemic, those airlines are now planning to borrow $10 billion to $12 billion each.
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