Buy shares. Warren Buffet is.
by Andrew on 17/10/08 at 3:21 pm
3 comments
Continuing our stock market theme, here is a brilliant article by Warren Buffet that appeared in the New York Times yesterday. I’ll paste an extract and then direct you to the original article to read the rest:
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.
Andrew Smith is the pedantic systems guy behind Live Alchemy, a SA e-commerce company. Andrew writes for Ideate in an attempt to make the world a more efficient place. View more articles by Andrew.
Roman
Oct 17th, 2008
Greed beats fear any day! Plus he knows that in the long term everything will go back to normal. His greed is stronger then his fear.
Bad Entrepreneur
Oct 18th, 2008
While I completely agree with Buffet and am buying shares I think its only fair to point out that Buffet doesn’t have a problem with his pension getting toasted in the current crisis.
Whether Buffet waits 1 year, 2 years or 10 years, he will always have a couple billion to retire on.
If you are planning to retire next year and you’ve just seen your nest egg get poached, then its a little tougher to agree with Buffetsts advice…
Bad Entrepreneur
Oct 18th, 2008
Buffetsts = Buffet’s