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Over the weekend, Warren Buffett held his annual Berkshire Hathaway Inc. (NYSE: BRK.A) shareholders meeting.
He revealed that the company liquidated all of its airline holdings and said it is possible for some stocks to take 10 or 20 years to recover back to all-time highs they made in the past year.
Despite that grim prediction, the markets eked out gains.
The S&P 500 started the day down about 1% in early morning trading. But they rallied throughout the day and closed 0.4% higher.
Tech stocks saw the biggest bids as the Nasdaq closed 1.2% higher.