In a 10/17/08 article in The New York Times, famed investor Warren Buffett writes that he is buying U.S. stocks and recommends others do so too. Here are some of his main points:
- Be fearful when others are greedy, and be greedy when others are fearful.
- The stock market will move higher well before either sentiment or the economy turns up.
- Bad news is an investor's best friend. It lets you buy a slice of America's future at a marked-down price.
- Cash equivalents are a terrible long-term asset.
- Equities will almost certainly outperform cash over the next decade, probably by a substantial degree.
Innovest believes that long-term investors should heed Buffett's words of wisdom. Please click here for the full article.