One of our heroes, Warren Buffett says buy stocks, buy American stocks. Here's a quote:
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.
His example that despite the upheavals during the 20th century, the market went from 66 to 11,497 inserts reason and calmness into our doom and gloom hysteria. Of course, Warren can afford to be wrong and maybe I can't, but I like his positive message. Warren made his fortune by buying low,when stocks are "on sale" so his advice should not be disregarded. And he didn't say a word about the market being at the bottom, in fact, he said he didn't know what it would do in the short term.
Here's the link:
http://www.nytimes.com/2008/10/17/opinion/17buffett.html?th&emc=th
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.
His example that despite the upheavals during the 20th century, the market went from 66 to 11,497 inserts reason and calmness into our doom and gloom hysteria. Of course, Warren can afford to be wrong and maybe I can't, but I like his positive message. Warren made his fortune by buying low,when stocks are "on sale" so his advice should not be disregarded. And he didn't say a word about the market being at the bottom, in fact, he said he didn't know what it would do in the short term.
Here's the link:
http://www.nytimes.com/2008/10/17/opinion/17buffett.html?th&emc=th