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Buffett’s Chance for a Blockbuster Deal Faded When Fed Stepped In

  • Berkshire has yet to find opportunities during crisis, he says
  • Investors at virtual annual meeting lament lack of big moves
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Buffett Says Berkshire Sold Entire Stake in Four Airlines
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Warren Buffett struck some of his famous deals -- taking lucrative stakes in Goldman Sachs Group Inc. and General Electric Co. -- by swooping in when others panicked during the last financial crisis. He’s treading more carefully this time around.

With a record $137 billion of cash piled up at his Berkshire Hathaway Inc., Buffett fielded questions over the weekend from shareholders who wanted to know why he hadn’t acted as companies clamored for liquidity amid the pandemic-related shutdowns. This crisis is different, Buffett said.