‘The 2008 crisis seemed to be a dress rehearsal for the 2020 pandemic’: Anthony Scaramucci

Anthony Scaramucci sat down with Yahoo Finance’s Editor-In-Chief Andy Serwer to discuss how the markets are faring comparing the 2008 recession and the 2020 coronavirus pandemic.

Video Transcript

- I want to turn our attention back to this economy and why what we're going through in 2008 is not the same-- or right now is not the same as 2008. Anthony Scaramucci is a guest of this program frequently. He's going to be on Influencers. And you can watch the full interview with Anthony Scaramucci at 5:00 PM today on Influencers with Andy Serwer, brought to you by Verizon. Here's a bit of what he had to say.

ANTHONY SCARAMUCCI: The 2008 crisis seemed to be a dress rehearsal for the 2020 pandemic. And so for me, when I look at the magnitude of force that's going to be applied against this from a macroeconomic perspective, I'm not going to be able to time the market. Sure, could it drop another 5% or 10%? Absolutely.

But as you just said about the Warren Buffett essay, six, 12, 24 months from now, will we be in way better shape than people would have expected at this time? I believe that that will be the case.

And so for me, I tell investors, you have to think long term, particularly in the stock market. You own that business.

You're taking the ride over a market cycle. Don't get juked out of your stocks right here. It's never been a good idea to sell in a panic.