Coming election is a too big stake not to use all available resources: people's memory is very short - couple of weeks maintained rally and they will be happy again. Is it right? I do not know, but they will give it a try. Buy value, real assets. Equities buying will pop up the Treasury Bubble, "safe heaven" currency US Dollar will go down, all hard assets will be up.
Now I am in a good company:
Oct. 17 (Bloomberg) -- Warren Buffett said he's buying U.S. stocks and, if prices stay attractive, his personal investments, as distinct from his stake in Berkshire Hathaway Inc., will soon be wholly in American equities.
Writing in the New York Times, he said he's following the principle: be fearful when others are greedy, and greedy when others are fearful.
Exaggerated concern about the long-term prosperity of the many sound U.S. companies is foolish, and most will probably be setting profit records in years to come, Buffett said.
While short-term stock-market movements can't be foretold, the likelihood is that the market will recover before the economy or general investor sentiment do so, and ``if you wait for the robins, spring will be over,'' he said.
Referring to the 1930s depression, Buffett pointed out that the Dow reached its nadir on July 8, 1932; economic conditions continued to deteriorate until Franklin Roosevelt became president in March, 1933, but by that time the market had climbed 30 percent.
Bad news, Buffett concluded, is an investor's best friend, for it enables you to buy ``a slice of America's future at a marked-down price.''
Writing in the New York Times, he said he's following the principle: be fearful when others are greedy, and greedy when others are fearful.
Exaggerated concern about the long-term prosperity of the many sound U.S. companies is foolish, and most will probably be setting profit records in years to come, Buffett said.
While short-term stock-market movements can't be foretold, the likelihood is that the market will recover before the economy or general investor sentiment do so, and ``if you wait for the robins, spring will be over,'' he said.
Referring to the 1930s depression, Buffett pointed out that the Dow reached its nadir on July 8, 1932; economic conditions continued to deteriorate until Franklin Roosevelt became president in March, 1933, but by that time the market had climbed 30 percent.
Bad news, Buffett concluded, is an investor's best friend, for it enables you to buy ``a slice of America's future at a marked-down price.''
1 comment:
Warren Buffett knows a good thing when he sees one, but I can't help thinking he may be too early. I still expect a further drop in the markets, maybe next week as the hedge funds are still forced sellers. WB did say however that he stopped buying when the DOW rebounded, so he was a buyer at around 8200 on the DOW.
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