Showing posts with label warren buffet. Show all posts
Showing posts with label warren buffet. Show all posts

Friday, October 17, 2008

Buffet upgrades America to "Buy"

In an NYT op-ed by the Oracle of Omaha, he shows leadership in this difficult economic time in urging readers to accumulate stocks instead of sitting on cash, providing some historical insight:
Over the long term, the stock market news will be good. In the 20th century, the United States endured two world wars and other traumatic and expensive military conflicts; the Depression; a dozen or so recessions and financial panics; oil shocks; a flu epidemic; and the resignation of a disgraced president. Yet the Dow rose from 66 to 11,497.
And guess what? The Dow is up (so far). Would his article have something to do with it?