The biggest surprise from today’s meltdown?  No Warren.

As in Buffett.  It seems like every time the market pulls a scary reversal as it did today, Warren makes an appearance on CNBC or Bloomberg or gives a hasty interview with the WSJ, Forbes, etc. He helps bring calm to the markets. Investors like him and trust him.

It’s not only good for the market.  But, it’s good for Berkshire Hathaway stock too.  Looking at the past year, Warren made an appearance every single time (the yellow arrows) BRK/B was in trouble or needed help breaking out.The biggest breakout was on July 18 when the stock gapped 5% higher after the board removed a cap from its buyback program.

So, why no Warren today?  Simple.  It isn’t yet time to panic.  If the past is any guide, there’s about 7-8 points of downside left before Buffett needs to report to makeup.

Stay tuned.