So says Warren Buffet, explain why he’s buying US stocks in an opinion column in the New York Times.
Billionaire investor Warren Buffett is buying U.S. stocks, he wrote in an opinion column in the New York Times.
“A simple rule dictates my buying: Be fearful when others are greedy, and be greedy when others are fearful,” Buffett wrote in the paper.
Buffett acknowledged the economic news was bad, with the financial world in a mess, unemployment rising and business activity faltering.
“What is likely, however, is that the market will move higher, perhaps substantially so, well before either sentiment or the economy turns up,” he said. “So if you wait for the robins, spring will be over.”
He goes on to conclude…
“But fears regarding the long-term prosperity of the nation’s many sound companies make no sense,” he said.
Buffett said major companies would suffer earnings hiccups, but added they “will be setting new profit records five, 10 and 20 years from now.”
Don’t try to pick the bottom in your stock market buying, that’s the surest recipe to stay on the side lines. Also, don’t invest all your money, whatever is left that is, at once either.
