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Warren Buffett warns of natural or human-made 'megacatastrophe,' and says our losses will be huge

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  • Mar 3rd, 2019 8:14 pm
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Jan 12, 2014
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Laval

Warren Buffett warns of natural or human-made 'megacatastrophe,' and says our losses will be huge

Warren Buffett warns of natural or human-made 'megacatastrophe,' and says our losses will be huge

"The Big One" — a major hurricane, earthquake, or cyber attack that he said "will dwarf hurricanes Katrina and Michael."

"When such a megacatastrophe strikes, we will get our share of the losses and they will be big — very big," Buffett wrote.

Although such a disaster could happen tomorrow or decades from now, one thing is sure, he said: the catastrophe is inevitable. Yet Buffett said he had a plan for such an outcome.

"Unlike many other insurers," he wrote, "we will be looking to add business the next day." That funding, he said, will come from deferred income taxes, liabilities that Berkshire Hathaway will eventually pay but are currently interest-free.
https://www.businessinsider.com/warren- ... iwsNzgS1O4


https://www.msn.com/en-us/money/markets ... RKS7QDB4mI
8 replies
Deal Addict
Mar 8, 2013
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Perhaps at age 88, he should focus on something other than being the Nostradumus of our time.
Sr. Member
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Jul 30, 2005
661 posts
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Downtown Toronto
He should be spending more time asking his 3G buddies about the KHC megacatastrophe.
Sr. Member
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Dec 24, 2007
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BC
What Warren Buffet says is true and those that live on the West Coast know that we are overdue for a Big One, the Cascadia Subduction Zone earthquake, that could very well wipe out a big chunk of the West Coast and cause Billions of dollars in damage. It's a matter of when - in the next 10 years, 50 years, 100 years - we don't know?

Now that you know that... So?? How does that affect any of your investment plans? Do you now put it all into gold and hunker down in a shelter as the world as you know it will eventually implode?
Jr. Member
Mar 16, 2018
190 posts
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Hamilton
WetCoastGuy wrote: Do you now put it all into gold and hunker down in a shelter as the world as you know it will eventually implode?
I'll just add it to the pile of logical reasons to avoid Vancouver real estate.
Deal Guru
Feb 9, 2006
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Brampton
Right because the business insider is a credible website that would never post sensational stories and click bait headlines for clicks....
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Nov 13, 2010
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Yeah the escalation of wars and conflicts in the ME and south asia. Its coming in 4-5 yrs
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Jan 16, 2016
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Hamilton, ON
WetCoastGuy wrote:
Mar 1st, 2019 9:10 pm
What Warren Buffet says is true and those that live on the West Coast know that we are overdue for a Big One, the Cascadia Subduction Zone earthquake, that could very well wipe out a big chunk of the West Coast and cause Billions of dollars in damage. It's a matter of when - in the next 10 years, 50 years, 100 years - we don't know?

Now that you know that... So?? How does that affect any of your investment plans? Do you now put it all into gold and hunker down in a shelter as the world as you know it will eventually implode?
Except for the fact that there are 0 data centers near that zone, therefore any catastrophe that could result will do very little to the technology realm.

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