Evidence receipt / belief
Published · transcript-backedDavid Rosenthal: belief
21 Apr 2021 Acquired Berkshire Hathaway Part I
“I mean in 2008, I think the market lost close to 50%, maybe, but 90% people were just wiped out.”
Source trail
Everything needed to verify it.
- Speaker
- David Rosenthal
- Attribution
- Verified speaker
- Claim type
- belief
- Recorded
- 21 Apr 2021
- Publisher
- Acquired
- Episode
- Berkshire Hathaway Part I
Transcript context
…Unbelievable. I mean in 2008, I think the market lost close to 50%, maybe, but 90% people were just wiped out. It’s carnage. The way that it’s described in Lowenstein’s book, what was unique and remarkable about the Great Depression, was that even the smart money got wiped out. The people who realized things are cheap now the crash is over would buy, and even they lost all their money. Of course, that is the thing to fear when everyone’s screaming ‘buy the dip.’ Of course, that hasn’t happened to this level, as you’re saying, since 1929 but just crushed everyone.…
Stored transcript either side of the excerpt. The highlighted words are the published quote; the surrounding text is unedited source, never generated.