VIX hit historical lows back in 2007, then jumped from 10 to 90...

VIX hit historical lows back in 2007, then jumped from 10 to 90 in the space of a few months in 2008.

Periods of extremely low volatility are usually followed by a tsunami.

If you traded through 2007-2009 you'd know what it was like and make sure never forget those lessons.

As Buffet says cash is an option without an expiry date. He's stilling on $50 billion and wont spend it until he sees fear and panic.