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Warren Buffett: Buy American. I Am.

 
 
Reply Fri 17 Oct, 2008 08:39 pm
Buy American. I Am.

Quote:
THE financial world is a mess, both in the United States and abroad. Its problems, moreover, have been leaking into the general economy, and the leaks are now turning into a gusher. In the near term, unemployment will rise, business activity will falter and headlines will continue to be scary.

So ... I’ve been buying American stocks.

Why?

A simple rule dictates my buying: Be fearful when others are greedy, and be greedy when others are fearful. And most certainly, fear is now widespread, gripping even seasoned investors. To be sure, investors are right to be wary of highly leveraged entities or businesses in weak competitive positions. But fears regarding the long-term prosperity of the nation’s many sound companies make no sense. These businesses will indeed suffer earnings hiccups, as they always have. But most major companies will be setting new profit records 5, 10 and 20 years from now.
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rosborne979
 
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Reply Sat 18 Oct, 2008 04:57 am
@Robert Gentel,
Quote:
A simple rule dictates my buying: Be fearful when others are greedy, and be greedy when others are fearful.

That's easier to do when you have a billion dollars in the bank.
Robert Gentel
 
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Reply Sat 18 Oct, 2008 12:23 pm
@rosborne979,
Or just enough to be able to leave it there for a while (e.g. retirement savings). I am not investing because I am not certain I can leave it long enough for it to be secure, but if I had savings I could leave untouched for at least 5 years I'd be all over stocks right now.
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