Cause the perma bears will tell you "it's different now". It always is. It's always the end of the world.
I wish buffy was right as I am sitting on 100% cash in my long-term portfolio and would love to see some signs of a V bottom. buffy is trying to boost some confidence as he knows we can tank much further. even if this was the bottom this market can still wallow away right here and do nothing for YEARS. I see no rush to buy whatsoever. with the type of market and economic conditions we have out there weighing on the markets I do not see a sustainable bull market rally resuming any time soon. the market will retest those lows several times over months possibly years. I will trade the volatility with my trading $$$ on the short and long sides. when we retest I will consider adding some long term holdings.....but not yet. Good Luck lil buffy's happy trades
Wouldn't it be nice if you realized that you bought too early too high, you could still induce others to buy by just saying that you did. And they'd proper your ill timed positions into positive territory. Maybe he got too greedy and that's why he's now fearful, just like the rest of us.
I am sure some random schmuck on ET knows way more about long-term stock valuation than Warren Buffett - lol. That said, the OP is a perfect example of popular public opinion/mood at/near major stock market lows.
-------------------------------------------------------------------------------- Quote from Cutten:Why is it ignorant to say 73-74 is worse than now? -------------------------------------------------------------------------------- Cause the perma bears will tell you "it's different now". It always is. It's always the end of the world. ========================================== Each one is different, BUT the market MO is always the same. As of today, this market is just starting and has pass 73-74 easily. We're in crash mode and you should be very very careful. trade well perr
blablabla, most people here posting and criticizing Buffet haven't read his letter carefully. He is not predicting a bottom, he is only saying that owning stocks now will be better than Cash if we compare current value with 5 years from now. I fully agree with him. Cash and Bonds will be by far the worst investment possible during the next decade. By far the best posts here on ET are like "but this time its really really different and the end of the world and financial system". It always was when we had the greates buying opportunities since the creation of the stock markets.
He won't go broke. He has the enormous advantage of buying stock and then later through his word alone, convincing millions of sheeple to buy and drive the prices higher. What could be easier? He's no genius, he just has the ultimate house advantage ever.