Warren Buffet- widely acclaimed as the world's greatest investor- went against his long-held philosophy of being greedy when others are fearful when he sold shares of Delta Airlines and Southwest held by Berkshire Hathaway between 8 to 9 April 2020.
According to Investopedia, Buffet disposed of 13 million Delta Airlines shares and 2.3 million Southwest shares.
In my humble opinion, retail investors should regard this highly unusual action by Buffet as the harbinger of an approaching market crash.
During the 2008 financial market crisis, Buffet did not bat an eyelid, and made opportunistic purchases of oversold value stocks.
However, for the Covid crisis, Buffet went against his central tenet and became fearful when others are also fearful.
We should all buckle up for an extremely rough ride!