Will Berkshire Outperform the S&P 500 During Downturns?

Berkshire has a huge war chest that can be deployed during downturns in the market like we're seeing right now. I don't see our bill at which a large part of that is having the business acumen to understand the transaction, the economic prospects and then the ability to act quickly. There's no one better than Warren and Charlie. But equally, we've got a talented team in Berkshire,. both at the Berkshire level and within our managers that can obviously look at opportunities too very quickly.