A 1974 Forbes article profiling Warren Buffett, reprinted prior to this years shareholder meeting.
His view of the market in 1974…
How do you contemplate the current stock market, we asked Warren Buffett, the sage of Omaha, Neb.
“Like an oversexed guy in a harem,” he shot back. “This is the time to start investing.”
patience in investing…
Stay dispassionate and be patient is Buffett’s message. “You’re dealing with a lot of silly people in the marketplace; it’s like a great big casino and everyone else is boozing. If you can stick with Pepsi, you should be OK.” First the crowd is boozy on optimism and buying every new issue in sight. The next moment it is boozy on pessimism, buying gold bars and predicting another Great Depression.
and the final word…
Buffett’s final word: “Now is the time to invest and get rich.”
Hat-tip to Newmark’s Door.
