Buffett Discusses Coronavirus Effects to Business on Squawk Box
New York, NY, February 24, 2020-Warren Buffett of Berkshire Hathaway, owner of Shaw Industries, was on CNBC’s Squawk Box this morning and spent some of his time there talking about the effects of the coronavirus on business.
Buffett advised that “very significant percentage of business” will be impacted by the effects of the coronavirus and specifically mentioned Shaw Industries as a company will be impacted by the outbreak. As the ongoing coronavirus outbreak hits stocks, he noted that a very significant percentage of his portfolio of businesses will be affected one way or another.
He added, however, that the businesses are being affected by a lot of other things too, and the real question is where those businesses are going to be in five to ten years. “They’ll have ups and downs,” he said.
He pointed to Apple and Dairy Queen feeling a significant impact, in addition to Shaw.