Just about everyday now we hear a bit more bad news on the financial front, with an article just yesterday talking about investors fleeing the market.
That’s why I found it refreshing to read a recent New York Times op-ed piece written by the world’s richest man, Warren Buffet.
In a column titled, “Buy American. I Am.” Buffet says now is the time to get in the game. “Why? 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.”
Buffet goes on to write: “To be sure, investors are right to be wary of highly leveraged entities or businesses in weak competitive positions. But fears regarding the long-term prosperity of the nation’s many sound companies make no sense.”