When the dot.com bubble burst in 2000--2002, Warren Buffett dived into the market, but he wasn't rushing to buy equities. The Oracle of Omaha moved quickly to take advantage of the situation evolving in the junk bond market.
Q4 hedge fund letters, conference, scoops etc
In 2003, Buffett described the junk bond market in 2002 as kind of "chaotic" as the number of bonds being issued far exceeded investor demand for the securities. As Buffett later explained, "there were a lot of them created much...