Credit Crunch

Hey readers. Phil Rosen here. As you might guess about a writer, I love to read. 

I've collected hundreds of books over the years, and stacks of paperbacks line the walls of my room. But the most useful knowledge I've learned comes from a very small fraction of those books. 

This is the Pareto principle, more popularly known as the 80-20 rule: Roughly 80% of impact comes from 20% of the causes. 

Markets are closed today but the Opening Bell newsletter rings nonetheless. Phil Rosen here — good to see you. 

The main thing to watch today is the March jobs report, which is due at 8:30 a.m. ET. 

When markets are open, stocks often move in reaction to the report, but this time around the reaction will have to wait until Monday.

For our day off, we have a shorter edition for you. First, let's check in with Warren Buffett.