After the 2020 Berkshire Hathaway annual meeting, Andrew Ross Sorkin of the New York Times comments about Warren Buffet’s warnings not to be overconfident in predicting what the future might hold:

What is driving Mr. Buffett’s caution?

In truth, he has always been cautious. He has always been more willing to lose out on an opportunity than to jump too soon. “I don’t worry about the things that I miss,” he often says.

If there is a silver lining, it is that Mr. Buffett was not predicting doom and gloom, just that he wasn’t sure which way we are headed, though, of course, he is wishing for the best. If the right deal came along, he would jump, he said.