Small Business Boomers

Warren Buffett has spoken. He says he’s putting his personal funds into U.S. equities.  He says, “Be greedy when others are fearful and fearful when others are greedy.”
As much as I admire Mr. Buffett, I’m wondering about his motive.  If I take him at his word, he just figures you should stick to the conventional wisdom of buying low and selling high.  His rescue of both Goldman Sachs and GE has historical precedent:

Some of you historians might be interested in the parallels between Buffett and J.P. Morgan, who rescued the U.S. economy on two occasions:
  During the Panic of 1893, …read more

No Comments

As Warren Buffett does his second bailout in as many weeks (this time of General Electric), I’m reminded of a Buffett quote I brought you last year.
How about this for eerily predictive?
I will tell you how to become rich. Close the doors. Be fearful when others are greedy. Be greedy when others are fearful.
If we are heading toward a second depression, maybe being greedy isn’t such a bad thing.  What do you think?
Image source: Newscom.com

2 Comments