Buffet makes a lot of money in market downturns by selling calls, generating cash, while his portfolio is flat.
lol. i think it is more ricerocket loses a lot of money in market downturns by selling calls, evaporating cash while her portfolio is devastated through sequential margin calls.
I believe he meant puts, that way if the stock goes down to his desired 'right' price he can scoop shares in case it doesn't he makes premium money