VICI - Remember REIT Investors: You're A Fractional Owner In 'Buildings'
2024-02-12 07:00:00 ET
Summary
- Warren Buffett remained calm and collected during the market turmoil caused by the coronavirus in 2020.
- Buffett emphasized the importance of treating investments like businesses and focusing on long-term profit capability.
- Alternatively, I believe one of the most important ideas for REIT investors is to remember that you are a fractional owner in "buildings".
The year was 2020.
The day was February 24.
And we had no idea what we were in for.
We thought we did, at least to some degree.
But how wrong we were.
Yet, one way or the other, Warren Buffett didn't care.
He flat-out said so in an interview with CNBC early that morning.
The discussion began as the show flashed "breaking news" that the Dow was set "to fall 800 points at open." And that was after it had fallen more than 350 points in the previous two-day span.
Yet there Buffett was, sitting calm, cool, and collected as show host Becky Quick began with:
Remember REIT Investors: You're A Fractional Owner In 'Buildings'…when you're looking at the futures down about 818 points this morning, I think probably the first thing viewers want to hear from you are your thoughts on what's happening with the coronavirus… and if you are worried about this.