Warren Buffett does not doubt: “There will be another pandemic and society will not be ready”

Warren Buffett does not doubt another pandemic

The American billionaire focused on four threats that could originate it: biological, cybernetic, chemical and even nuclear.

Millionaire Warren Buffett assured that the coronavirus pandemic “is not the worst that can be imagined” and predicted that another will occur in the future, the results of which could be catastrophic because society “does not seem to be prepared to face it.”

“Society has a hard time preparing for remote situations, which are possible and will happen sooner or later,” said the 90-year-old mogul in an interview with CNBC’s Buffett & Munger: A Wealth of Wisdom’

In addition, the executive director of Berkshire Hathaway focused on four threats that could cause the next pandemic: biological, cybernetic, chemical and even nuclear.

Warren Buffrtt New Pandemic

Consequences of the coronavirus

Buffett, who is known in the environment as the ‘Oracle of Omaha’ -for his hometown-, told the cameras that the economic consequences of COVID-19 has not yet ended and that they hit small businesses harder.

“The economic impact of the health crisis has been extremely uneven since many hundreds of thousands or millions of small companies have been affected terribly, “lamented the millionaire, and considered that most large firms, such as car dealers, “doing well.”

“In terms of unpredictability it has been very unpredictable, but it has worked better than expected for most people and most companies. And simply through no fault of their own, it has decimated all kinds of people and their hopes, “he said.

For Buffett, the main lesson that the pandemic left him is how poorly prepared the world can be for emergencies that occur: “I learned that people do not know as much as they think. But what is most learned is that the pandemic you could see it coming, and that this is not the worst you can imagine.”

“Society has a hard time preparing for remote situations, which are possible and will happen sooner or later,” he concluded.

Prepare for the worst

In 2019, he warned that the world was on the verge of a “mega-catastrophe” that would dwarf the chaos created by Hurricanes Katrina and Michael. When the coronavirus first hit the United States, the billionaire said during an interview: “I always felt that at some point a pandemic would occur. “

You would expect that kind of foresight from someone who has invested so much in the insurance industry (Berkshire Hathaway owns Geico and several other insurers), where planning for the worst is a central part of the business model.

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