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Cheers. Welcome to the Real Vision Daily briefing. It's Monday, May 4th. I'm Jack Farley. We've got Ash and Ed standing by. I know they've got a lot to say.

But first let's go to the story that's on everybody's mind.

Saturday's Berkshire Hathaway shareholder meeting this year held virtually in an empty auditorium.

In short, the meeting was a debate between Warren Buffett and Warren Buffett.

The first Warren Buffett started with a very long series of prepared remarks about American history and the enduring promise of the American dream and why it's always a bad idea to bet against America.

But then the second Warren Buffett came out swinging

with some very sober talk about how businesses

and investors should be cautious that there are so many unknowns.

We don't know how long the coronavirus will last,

how consumer behavior could be irreparably

altered as a result of the shutdown. The second Warren Buffett dropped a bombshell,

disclosing that he had sold all of his airline positions. At one point,

Berkshire Hathaway owned roughly 10% of the four largest

airlines in America, Delta, Southwest, American, and United. Everything gone. Now, some investors and analysts

were expecting a significant rebalancing, but no one but the closest insider thought that

...