Yep! Most didn't have this luxury and were fighting for survival because they had no margin of safety and too much debt.
It reminds me of a quote from Howard Marks: "Believe me, there’s nothing better than buying from someone who has to sell regardless of price during a crash. Many of the best buys we’ve ever made occurred for that reason" and " Since buying from a forced seller is the best thing in our world, being a forced seller is the worst. That means it’s essential to arrange your affairs so you’ll be able to hold on—and not sell—at the worst of times."
A lesson I learned from the covid crisis: should have had more cash on hand to invest when the markets dove
Yep! Most didn't have this luxury and were fighting for survival because they had no margin of safety and too much debt.
It reminds me of a quote from Howard Marks: "Believe me, there’s nothing better than buying from someone who has to sell regardless of price during a crash. Many of the best buys we’ve ever made occurred for that reason" and " Since buying from a forced seller is the best thing in our world, being a forced seller is the worst. That means it’s essential to arrange your affairs so you’ll be able to hold on—and not sell—at the worst of times."