Warren Buffet is the greatest investor of our time if not the greatest of all time. A thousand dollars invested with him in 1956 would be worth millions today. One of the reasons for Buffets success is that he realizes great opportunities are few and far between so when he finds something he likes he goes all in… he does not just buy shares of the company he buys the entire company.
How does this relate to debt buying?
Right now it’s raining gold in credit card charge offs. All the fundamental factors are in line to create a substantial opportunity over the next 3-5 years (see this post and this post). If Mr. Buffett were involved in this business there is no doubt he would be all in.
As the Oracle of Omaha says, “When It’s Raining Gold Reach For A Bucket Not A Thimble!”